Packing-material input credits support inverted-duty refunds for packaged tea, while rate-reduction and concessional-supply circulars remain inapplica...
Government road-restoration services for commercial pipeline work attract reverse-charge GST, while portal-issued proceedings remain valid without a p...
Cash is movable property capable of being held benami. Where a beneficial owner supplies demonetised cash to a third party, who deposits it in that person's bank account and retransfers the funds through banking channels, the third party lends their name and holds the resulting bank balance for the provider's benefit. The cash constitutes consideration for the bank balance, and the retransfer evidences beneficial ownership; the duration of holding is immaterial. The transaction was treated as benami, with attachment limited to the remaining balance and the amount held in an interest-free bond, subject to tracing unavailable funds.
Cash is movable property capable of being held benami. Where a beneficial owner supplies demonetised cash to a third party, who deposits it in that person's bank account and retransfers the funds through banking channels, the third party lends their name and holds the resulting bank balance for the provider's benefit. The cash constitutes consideration for the bank balance, and the retransfer evidences beneficial ownership; the duration of holding is immaterial. The transaction was treated as benami, with attachment limited to the remaining balance and the amount held in an interest-free bond, subject to tracing unavailable funds.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4902 
