https://www.taxtmi.com/caselaws?id=776087 The AT upheld the provisional attachment of cash seized from the appellant, ruling that unaccounted cash qualifies as movable property under the PBPT Act and constitutes benami property when the source is unexplained. The tribunal rejected the appellant's claim that three parties are required for a benami transaction, affirming that only a benamidar and beneficial owner are necessary. The appellant's failure to provide credible evidence explaining the source of the cash and reliance on inconsistent statements led to the conclusion that Section 2(9)(D) of the Act applies. Filing ITRs did not exempt the appellant from PBPT proceedings, as the source of the money remained undisclosed. The attachment and confiscation under the PBPT Act were therefore upheld against the appellant. en-us Thu, 31 Jul 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776087 The AT upheld the provisional attachment of cash seized from the appellant, ruling that unaccounted cash qualifies as movable property under the PBPT Act and constitutes benami property when the source is unexplained. The tribunal rejected the appellant's claim that three parties are required for a benami transaction, affirming that only a benamidar and beneficial owner are necessary. The appellant's failure to provide credible evidence explaining the source of the cash and reliance on inconsistent statements led to the conclusion that Section 2(9)(D) of the Act applies. Filing ITRs did not exempt the appellant from PBPT proceedings, as the source of the money remained undisclosed. The attachment and confiscation under the PBPT Act were therefore upheld against the appellant. Case-Laws Benami Property Thu, 31 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776087