https://www.taxtmi.com/caselaws?id=791009 Cash handed over for deposit in a third-party account and later retransferred through banking channels was treated as property capable of forming benami consideration under the Prohibition of Benami Property Transactions Act, 1988. The Tribunal found that the proprietor who received and deposited the cash acted as a benamidar lending his name, because the beneficial owner supplied the consideration and the arrangement involved holding property for another's benefit. It rejected the argument that the transaction was merely sham and outside the Act. The attachment was upheld in principle, with the quantum modified. en-us Thu, 30 Apr 2026 00:00:00 +0530 Tue, 05 May 2026 09:09:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791009 Cash handed over for deposit in a third-party account and later retransferred through banking channels was treated as property capable of forming benami consideration under the Prohibition of Benami Property Transactions Act, 1988. The Tribunal found that the proprietor who received and deposited the cash acted as a benamidar lending his name, because the beneficial owner supplied the consideration and the arrangement involved holding property for another's benefit. It rejected the argument that the transaction was merely sham and outside the Act. The attachment was upheld in principle, with the quantum modified. Case-Laws Benami Property Thu, 30 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791009