https://www.taxtmi.com/caselaws?id=771498 The Appellate Tribunal under SAFEMA upheld provisional attachment of agricultural lands and bank accounts under the Prohibition of Benami Property Transactions Act. The Tribunal found all four requirements for benami transactions were met: properties were transferred to alleged benamidars, consideration was provided by the beneficial owner, properties were held for his indirect benefit through a company he controlled, and no statutory exceptions applied. The Tribunal rejected arguments that fiduciary relationships existed between parties. Evidence showed the beneficial owner controlled all operations by holding original documents, powers of attorney, and maintaining accounts. The appeals were dismissed and attachment orders confirmed. en-us Thu, 08 May 2025 00:00:00 +0530 Tue, 27 May 2025 08:32:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771498 The Appellate Tribunal under SAFEMA upheld provisional attachment of agricultural lands and bank accounts under the Prohibition of Benami Property Transactions Act. The Tribunal found all four requirements for benami transactions were met: properties were transferred to alleged benamidars, consideration was provided by the beneficial owner, properties were held for his indirect benefit through a company he controlled, and no statutory exceptions applied. The Tribunal rejected arguments that fiduciary relationships existed between parties. Evidence showed the beneficial owner controlled all operations by holding original documents, powers of attorney, and maintaining accounts. The appeals were dismissed and attachment orders confirmed. Case-Laws Benami Property Thu, 08 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771498