https://www.taxtmi.com/caselaws?id=775837 The AT under SAFEMA upheld the provisional attachment order, holding the transactions as benami under Section 2(9) of PBPTA. It found that accommodation entries were used to route unaccounted money during demonetization, with proprietors acting as benamidars for beneficial owners without actual transfer of gold bullion. The absence of money during search or fictitious nature of transactions did not negate the benami character, as arrangements to defeat law qualify as benami. Non-verification of purchaser details and non-consideration of Income Tax assessment were rejected as irrelevant. Retraction of statements by appellants was deemed afterthought and inadmissible. Appeals lacked merit and were dismissed. en-us Thu, 10 Jul 2025 00:00:00 +0530 Fri, 01 Aug 2025 08:15:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775837 The AT under SAFEMA upheld the provisional attachment order, holding the transactions as benami under Section 2(9) of PBPTA. It found that accommodation entries were used to route unaccounted money during demonetization, with proprietors acting as benamidars for beneficial owners without actual transfer of gold bullion. The absence of money during search or fictitious nature of transactions did not negate the benami character, as arrangements to defeat law qualify as benami. Non-verification of purchaser details and non-consideration of Income Tax assessment were rejected as irrelevant. Retraction of statements by appellants was deemed afterthought and inadmissible. Appeals lacked merit and were dismissed. Case-Laws Benami Property Thu, 10 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775837