https://www.taxtmi.com/caselaws?id=783667 The dominant issue was whether the auction purchase funded through a lender constituted a benami transaction under the 1988 Act, justifying confirmation of the provisional attachment. The AT held that routing payments through banking channels does not negate benami character where the alleged lender lacked creditworthiness and the purchasers lacked capacity, and no credible pleadings or evidence disclosed the lender's legitimate source of funds, rendering the consideration and beneficial ownership untraceable and attracting s. 2(9)(D). The statutory exception to s. 2(9)(A) was held inapplicable to a case falling under s. 2(9)(D). Consequently, the provisional attachment was upheld and the appeals were dismissed. en-us Wed, 10 Dec 2025 00:00:00 +0530 Sat, 20 Dec 2025 07:45:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783667 The dominant issue was whether the auction purchase funded through a lender constituted a benami transaction under the 1988 Act, justifying confirmation of the provisional attachment. The AT held that routing payments through banking channels does not negate benami character where the alleged lender lacked creditworthiness and the purchasers lacked capacity, and no credible pleadings or evidence disclosed the lender's legitimate source of funds, rendering the consideration and beneficial ownership untraceable and attracting s. 2(9)(D). The statutory exception to s. 2(9)(A) was held inapplicable to a case falling under s. 2(9)(D). Consequently, the provisional attachment was upheld and the appeals were dismissed. Case-Laws Benami Property Wed, 10 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783667