https://www.taxtmi.com/caselaws?id=768727 The Appellate Tribunal under SAFEMA dismissed the appeal in a benami property transaction case. Appellant was found with cash of Rs. 87,15,472/- but failed to provide satisfactory explanation for possession. His statements were inconsistent and changed multiple times - initially naming four persons who allegedly gave money for currency exchange, but only two responded to summons and denied the claim. Appellant later changed his statement adding more names and claiming Rs. 45,68,687/- belonged to his father, but this was not disclosed initially. The Tribunal found appellant's explanations unreliable due to contradictions and variations, upholding the Adjudicating Authority's confirmation order. en-us Wed, 19 Mar 2025 00:00:00 +0530 Sat, 12 Apr 2025 08:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768727 The Appellate Tribunal under SAFEMA dismissed the appeal in a benami property transaction case. Appellant was found with cash of Rs. 87,15,472/- but failed to provide satisfactory explanation for possession. His statements were inconsistent and changed multiple times - initially naming four persons who allegedly gave money for currency exchange, but only two responded to summons and denied the claim. Appellant later changed his statement adding more names and claiming Rs. 45,68,687/- belonged to his father, but this was not disclosed initially. The Tribunal found appellant's explanations unreliable due to contradictions and variations, upholding the Adjudicating Authority's confirmation order. Case-Laws Benami Property Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768727