https://www.taxtmi.com/caselaws?id=372136 The Tribunal set aside the attachment order, ruling that the salary advances received were not "benami" transactions. It found insufficient evidence and procedural non-compliance by the Initiating Officer and Adjudicating Authority. Emphasizing the careful application of the Benami Act, the judgment highlighted the Act's aim to penalize transactions involving lending names without benefiting the lender. The attached properties were ordered to be released immediately to the appellants to prevent penalizing innocent parties without clear evidence. en-us Wed, 31 Oct 2018 00:00:00 +0530 Wed, 25 Dec 2019 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372136 The Tribunal set aside the attachment order, ruling that the salary advances received were not "benami" transactions. It found insufficient evidence and procedural non-compliance by the Initiating Officer and Adjudicating Authority. Emphasizing the careful application of the Benami Act, the judgment highlighted the Act's aim to penalize transactions involving lending names without benefiting the lender. The attached properties were ordered to be released immediately to the appellants to prevent penalizing innocent parties without clear evidence. Case-Laws Benami Property Wed, 31 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372136