International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
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The article addresses whether alleged transactions constituted benami transfers and whether the fiduciary exemption to the benami prohibition applies. It explains that fiduciary relation was not established: no power of attorney, absence of evidence that the ostensible purchaser held title for the benefit of the alleged beneficial owner, and no statutory permission for non tribal acquisition of tribal land. It states that simple entrustment of consideration or employment does not create a trust protected by trust law, that statutory repeal limits trust based exemptions, and that attachments of the disputed properties were therefore sustained as benami transfers contrary to tribal land restrictions.
The article addresses whether alleged transactions constituted benami transfers and whether the fiduciary exemption to the benami prohibition applies. It explains that fiduciary relation was not established: no power of attorney, absence of evidence that the ostensible purchaser held title for the benefit of the alleged beneficial owner, and no statutory permission for non tribal acquisition of tribal land. It states that simple entrustment of consideration or employment does not create a trust protected by trust law, that statutory repeal limits trust based exemptions, and that attachments of the disputed properties were therefore sustained as benami transfers contrary to tribal land restrictions.
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