Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
Benami transaction challenge to a Provisional Attachment Order: the definition of a benami transaction under Section 2(9)(A) of the 1988 Act applies where property remained in the name of benamidars on and after the 2016 amendment, so the amendment's prospective character does not defeat attachment. The fiduciary capacity exception was not accepted on the facts; the benamidar was neither employee nor agent and the purchase was made for the benefit of the beneficial owner, including use of a Scheduled Caste nominee for registration. Consequently the tribunal found the statutory ingredients satisfied and dismissed the appeals.
Benami transaction challenge to a Provisional Attachment Order: the definition of a benami transaction under Section 2(9)(A) of the 1988 Act applies where property remained in the name of benamidars on and after the 2016 amendment, so the amendment's prospective character does not defeat attachment. The fiduciary capacity exception was not accepted on the facts; the benamidar was neither employee nor agent and the purchase was made for the benefit of the beneficial owner, including use of a Scheduled Caste nominee for registration. Consequently the tribunal found the statutory ingredients satisfied and dismissed the appeals.
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