https://www.taxtmi.com/caselaws?id=198518 A claim that property is held in trust or in a fiduciary capacity to avoid the benami prohibition must be supported by evidence; bare pleadings are insufficient. The alleged exception for express trust was not established, and the asserted resulting or implied trust could not defeat the statutory bar. The claimed fiduciary character of the holdings was also not proved, and the absence of the required declaration for beneficial ownership in company shares further weakened the case. Limitation likewise depended on an unproved factual basis for a later starting point, so the suit could not be treated as timely on the pleadings alone. Both preliminary objections failed against the plaintiff. en-us Fri, 11 Sep 2015 00:00:00 +0530 Wed, 25 Dec 2019 19:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=198518 A claim that property is held in trust or in a fiduciary capacity to avoid the benami prohibition must be supported by evidence; bare pleadings are insufficient. The alleged exception for express trust was not established, and the asserted resulting or implied trust could not defeat the statutory bar. The claimed fiduciary character of the holdings was also not proved, and the absence of the required declaration for beneficial ownership in company shares further weakened the case. Limitation likewise depended on an unproved factual basis for a later starting point, so the suit could not be treated as timely on the pleadings alone. Both preliminary objections failed against the plaintiff. Case-Laws Benami Property Fri, 11 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=198518