Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Provisional attachment of the property was confirmed under the PBPT Act as the transaction falls within the scope of benami property under Section 2(9)(A); the appellant failed to explain sources of funds, did not produce original lease evidence and adverse inference was drawn for non-production, supporting IO findings of fabrication. Beneficial ownership remains under investigation-IO to re-investigate whether the beneficial owner includes the named individual, his son, and/or a company-so the property is not to be released. The Tribunal may modify AA orders under Section 46(4)(e); appeal by the benamidar is dismissed.
Provisional attachment of the property was confirmed under the PBPT Act as the transaction falls within the scope of benami property under Section 2(9)(A); the appellant failed to explain sources of funds, did not produce original lease evidence and adverse inference was drawn for non-production, supporting IO findings of fabrication. Beneficial ownership remains under investigation-IO to re-investigate whether the beneficial owner includes the named individual, his son, and/or a company-so the property is not to be released. The Tribunal may modify AA orders under Section 46(4)(e); appeal by the benamidar is dismissed.
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