https://www.taxtmi.com/caselaws?id=467115 Determination of benami status turned on contemporaneous transactional facts: timing of LLP incorporation, minimal capital contribution, mismatch between recorded cheques and encashments, absence of sale-deed or contemporaneous evidence for alleged prior advance, and a post-attachment memorandum not relied on at acquisition. The legal principle applied treats unexplained payments furnished by beneficial persons as funds used to acquire immovable property in the name of another, making the nominal owner a benamidar and the payors beneficial owners; accordingly the attachment under the Prohibition of Benami Property Transactions regime was confirmed. en-us Wed, 09 Oct 2024 00:00:00 +0530 Fri, 06 Mar 2026 20:54:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467115 Determination of benami status turned on contemporaneous transactional facts: timing of LLP incorporation, minimal capital contribution, mismatch between recorded cheques and encashments, absence of sale-deed or contemporaneous evidence for alleged prior advance, and a post-attachment memorandum not relied on at acquisition. The legal principle applied treats unexplained payments furnished by beneficial persons as funds used to acquire immovable property in the name of another, making the nominal owner a benamidar and the payors beneficial owners; accordingly the attachment under the Prohibition of Benami Property Transactions regime was confirmed. Case-Laws Benami Property Wed, 09 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467115