https://www.taxtmi.com/caselaws?id=784980 Whether the transfers constituted a benami transaction: AT found the requisite indicia of benami (lack of genuine consideration and control by the real payor) were satisfied because the purported loan/consideration originated from the payor-group, funds were rotated among related entities, and the nominee remained under the dominion of a director introduced by the payor to secure control and comply with EMC shareholding conditions; asserted loan repayment was a sham and no effective third-party repayment occurred. Outcome: the transaction was held benami and the appeals were dismissed. en-us Mon, 05 Jan 2026 00:00:00 +0530 Thu, 15 Jan 2026 08:41:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784980 Whether the transfers constituted a benami transaction: AT found the requisite indicia of benami (lack of genuine consideration and control by the real payor) were satisfied because the purported loan/consideration originated from the payor-group, funds were rotated among related entities, and the nominee remained under the dominion of a director introduced by the payor to secure control and comply with EMC shareholding conditions; asserted loan repayment was a sham and no effective third-party repayment occurred. Outcome: the transaction was held benami and the appeals were dismissed. Case-Laws Benami Property Mon, 05 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784980