https://www.taxtmi.com/caselaws?id=782109 AT upheld the finding of benami transaction involving cash deposits in dummy bank accounts with no genuine business activity. The appellant's plea of ignorance, claiming her husband managed the account, was rejected, as lack of knowledge did not absolve her from liability. AT noted absence of any sale agreement or legitimate transaction with the firm that transferred funds, concluding the scheme was to convert demonetized currency. AT further held that subsequent income-tax assessment or surrender under s.148 did not nullify prior benami proceedings. The appeal was dismissed. en-us Tue, 18 Nov 2025 00:00:00 +0530 Tue, 25 Nov 2025 08:55:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782109 AT upheld the finding of benami transaction involving cash deposits in dummy bank accounts with no genuine business activity. The appellant's plea of ignorance, claiming her husband managed the account, was rejected, as lack of knowledge did not absolve her from liability. AT noted absence of any sale agreement or legitimate transaction with the firm that transferred funds, concluding the scheme was to convert demonetized currency. AT further held that subsequent income-tax assessment or surrender under s.148 did not nullify prior benami proceedings. The appeal was dismissed. Case-Laws Benami Property Tue, 18 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782109