https://www.taxtmi.com/highlights?id=93987 The AT dismissed the appeals, upholding the Adjudicating Authority's finding of a benami transaction. The Tribunal concluded the Respondent established a prima facie case and discharged the onus, shifting evidentiary burden to the Appellant who failed to satisfactorily account for source of funds or legitimate consideration; expenditure of Rs. 4.13 crore on construction while legal title remained with the beneficial owner and minimal consideration post-execution (Rs.1.1 crore) supported the benami finding. The Tribunal held the Provisional Attachment Order valid: notice under s.24(1) was issued, prior approval of the Approving Authority was obtained (albeit before notice), and any procedural defect was saved by s.63, rendering the appeals devoid of merit. en-us Sat, 08 Nov 2025 08:30:03 +0530 Sat, 08 Nov 2025 08:30:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=93987 The AT dismissed the appeals, upholding the Adjudicating Authority's finding of a benami transaction. The Tribunal concluded the Respondent established a prima facie case and discharged the onus, shifting evidentiary burden to the Appellant who failed to satisfactorily account for source of funds or legitimate consideration; expenditure of Rs. 4.13 crore on construction while legal title remained with the beneficial owner and minimal consideration post-execution (Rs.1.1 crore) supported the benami finding. The Tribunal held the Provisional Attachment Order valid: notice under s.24(1) was issued, prior approval of the Approving Authority was obtained (albeit before notice), and any procedural defect was saved by s.63, rendering the appeals devoid of merit. Highlights Benami Property Sat, 08 Nov 2025 08:30:03 +0530 https://www.taxtmi.com/highlights?id=93987