https://www.taxtmi.com/caselaws?id=785152 Provisional attachment of properties was not confirmed because the Department failed to prove the essential ingredients of a benami transaction. The Tribunal found no direct, reliable or independent evidence that share subscription funds came from the alleged beneficial owner or were routed through shell entities for another person's benefit. It also noted that the companies had business activity, profits, assessed returns and financial capacity to justify the share issue at premium, and that the investments appeared to have been made for their own benefit. The alternative statutory basis was likewise found unsustainable on the facts, so the attachment was not upheld. en-us Mon, 12 Jan 2026 00:00:00 +0530 Mon, 19 Jan 2026 07:36:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785152 Provisional attachment of properties was not confirmed because the Department failed to prove the essential ingredients of a benami transaction. The Tribunal found no direct, reliable or independent evidence that share subscription funds came from the alleged beneficial owner or were routed through shell entities for another person's benefit. It also noted that the companies had business activity, profits, assessed returns and financial capacity to justify the share issue at premium, and that the investments appeared to have been made for their own benefit. The alternative statutory basis was likewise found unsustainable on the facts, so the attachment was not upheld. Case-Laws Benami Property Mon, 12 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785152