https://www.taxtmi.com/highlights?id=102952 Section 2(9)(C) of the Prohibition of Benami Property Transactions Act requires the purported owner to be unaware of, or deny knowledge of, ownership. Acknowledgements by alleged benamidars during cross-examination that they knew of share allotments and buy-backs, and received the consideration in their bank accounts, prevent the transactions from meeting that requirement. Such acknowledgements prevail over conflicting statements made in income-tax proceedings. Potential tax evasion reflected in trade-payable entries does not, by itself, establish a benami transaction. Consequently, provisional attachment cannot be confirmed where the statutory knowledge requirement is not satisfied. en-us Sat, 22 Aug 2026 10:33:32 +0530 Sat, 22 Aug 2026 10:33:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102952 Section 2(9)(C) of the Prohibition of Benami Property Transactions Act requires the purported owner to be unaware of, or deny knowledge of, ownership. Acknowledgements by alleged benamidars during cross-examination that they knew of share allotments and buy-backs, and received the consideration in their bank accounts, prevent the transactions from meeting that requirement. Such acknowledgements prevail over conflicting statements made in income-tax proceedings. Potential tax evasion reflected in trade-payable entries does not, by itself, establish a benami transaction. Consequently, provisional attachment cannot be confirmed where the statutory knowledge requirement is not satisfied. Highlights Benami Property Sat, 22 Aug 2026 10:33:32 +0530 https://www.taxtmi.com/highlights?id=102952