https://www.taxtmi.com/caselaws?id=788576 A transaction is benami where property is taken in one person's name, consideration is supplied by another, and the arrangement is intended for that other person's immediate or future benefit. On the stated facts, agricultural lands were acquired in the name of an individual using funds of the trusts, so the statutory definition was satisfied and the non-benami finding could not stand. The fiduciary exception did not apply because the arrangement was not a genuine fiduciary holding, and the Section 53A part-performance explanation was also unavailable since the transaction did not meet its statutory conditions. The Benami Act therefore continued to apply to the properties. en-us Thu, 19 Mar 2026 00:00:00 +0530 Tue, 24 Mar 2026 12:49:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788576 A transaction is benami where property is taken in one person's name, consideration is supplied by another, and the arrangement is intended for that other person's immediate or future benefit. On the stated facts, agricultural lands were acquired in the name of an individual using funds of the trusts, so the statutory definition was satisfied and the non-benami finding could not stand. The fiduciary exception did not apply because the arrangement was not a genuine fiduciary holding, and the Section 53A part-performance explanation was also unavailable since the transaction did not meet its statutory conditions. The Benami Act therefore continued to apply to the properties. Case-Laws Benami Property Thu, 19 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788576