https://www.taxtmi.com/caselaws?id=794653 A purported gold sale was treated as a sham device to convert demonetised cash into banking credits, with the Tribunal finding the appellant to be the beneficial owner and the transaction not genuine. The broker's affidavit and alleged delivery of gold were rejected because there was no reliable proof of authority, KYC material, buyer identity, or corroboration, and the documents were internally inconsistent. Procedural objections based on non-examination of the alleged operator and absence of cross-examination of the proprietor were also rejected for want of traceable witnesses and demonstrated prejudice. The attachment was sustained to the extent stated, and the ratio emphasised that a commercial facade supported only by documentary inconsistencies may be treated as benami. en-us Thu, 02 Jul 2026 00:00:00 +0530 Thu, 09 Jul 2026 08:35:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794653 A purported gold sale was treated as a sham device to convert demonetised cash into banking credits, with the Tribunal finding the appellant to be the beneficial owner and the transaction not genuine. The broker's affidavit and alleged delivery of gold were rejected because there was no reliable proof of authority, KYC material, buyer identity, or corroboration, and the documents were internally inconsistent. Procedural objections based on non-examination of the alleged operator and absence of cross-examination of the proprietor were also rejected for want of traceable witnesses and demonstrated prejudice. The attachment was sustained to the extent stated, and the ratio emphasised that a commercial facade supported only by documentary inconsistencies may be treated as benami. Case-Laws Benami Property Thu, 02 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794653