https://www.taxtmi.com/caselaws?id=18805 Section 4 of the Benami Transactions (Prohibition) Act, 1988 was construed as confined to benami transactions in the defined tripartite sense, where one person provides consideration and another holds title. A sham transaction, in which no real transfer occurs and title remains with the transferor, was held to fall outside "property held benami". The scheme of sections 3, 4 and 5, read with the definition clause, did not justify extending the Act to sham transactions, despite reliance on the use of "means", retrospective operation of section 1(3), and repealed trust provisions. Such sham transactions therefore remain outside the Act's bar on enforcement and defence. en-us Tue, 12 Jul 1994 00:00:00 +0530 Wed, 25 Dec 2019 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18805 Section 4 of the Benami Transactions (Prohibition) Act, 1988 was construed as confined to benami transactions in the defined tripartite sense, where one person provides consideration and another holds title. A sham transaction, in which no real transfer occurs and title remains with the transferor, was held to fall outside "property held benami". The scheme of sections 3, 4 and 5, read with the definition clause, did not justify extending the Act to sham transactions, despite reliance on the use of "means", retrospective operation of section 1(3), and repealed trust provisions. Such sham transactions therefore remain outside the Act's bar on enforcement and defence. Case-Laws Benami Property Tue, 12 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18805