https://www.taxtmi.com/caselaws?id=796566 Benami ownership requires affirmative proof that another person provided consideration and that the property is held for that person's benefit; corporate ownership and recorded funds are not conclusive, and the burden remains on the Initiating Officer. Acceptance of an investment as explained in income-tax assessment does not bar benami proceedings, but findings accepting the banking trail, loans and advances must be considered. A benami finding founded on a retracted third-party statement requires meaningful cross-examination and entity-specific examination of documented funding sources. Without these safeguards and independent evidence, the finding is vitiated and requires fresh fact-finding. en-us Mon, 03 Aug 2026 00:00:00 +0530 Fri, 07 Aug 2026 09:07:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796566 Benami ownership requires affirmative proof that another person provided consideration and that the property is held for that person's benefit; corporate ownership and recorded funds are not conclusive, and the burden remains on the Initiating Officer. Acceptance of an investment as explained in income-tax assessment does not bar benami proceedings, but findings accepting the banking trail, loans and advances must be considered. A benami finding founded on a retracted third-party statement requires meaningful cross-examination and entity-specific examination of documented funding sources. Without these safeguards and independent evidence, the finding is vitiated and requires fresh fact-finding. Case-Laws Benami Property Mon, 03 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796566