https://www.taxtmi.com/caselaws?id=800712 Procedural, curative and declaratory 2016 amendments to the Prohibition of Benami Property Transactions Act may apply retroactively to enforce the pre-existing prohibition on benami transactions, while new or enhanced penal provisions remain prospective. Benami status depends on the source of consideration, control, custody of purchase records and beneficial use; funding and use by a person other than the ostensible owner support beneficial ownership. Sworn statements expressly made voluntarily require a valid, timely retraction to be displaced. Unsupported cash records inconsistent with disclosed income and transaction patterns may be treated as fabricated. Written reasons to believe are required before a show-cause notice, but separate disclosure of those recorded reasons is not required where the notice states the material basis and allegations. en-us Thu, 10 Sep 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800712 Procedural, curative and declaratory 2016 amendments to the Prohibition of Benami Property Transactions Act may apply retroactively to enforce the pre-existing prohibition on benami transactions, while new or enhanced penal provisions remain prospective. Benami status depends on the source of consideration, control, custody of purchase records and beneficial use; funding and use by a person other than the ostensible owner support beneficial ownership. Sworn statements expressly made voluntarily require a valid, timely retraction to be displaced. Unsupported cash records inconsistent with disclosed income and transaction patterns may be treated as fabricated. Written reasons to believe are required before a show-cause notice, but separate disclosure of those recorded reasons is not required where the notice states the material basis and allegations. Case-Laws Benami Property Thu, 10 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800712