https://www.taxtmi.com/caselaws?id=800871 Cash is movable property under the Prohibition of Benami Property Transactions Act, 1988. Where a person receives cash from its beneficial owner, deposits it into a proprietorship account in that person's name, and retransfers it for the owner's benefit, the arrangement can meet the statutory elements of a benami transaction: the recipient is a benamidar, and cash may operate as both property and consideration. Immediate banking retransfer following attempted demonetised-cash conversion does not by itself remove the arrangement from the statutory definition. Attachment must account for tax paid and sums placed in interest-free disclosure bonds. en-us Thu, 30 Apr 2026 00:00:00 +0530 Tue, 13 Oct 2026 07:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800871 Cash is movable property under the Prohibition of Benami Property Transactions Act, 1988. Where a person receives cash from its beneficial owner, deposits it into a proprietorship account in that person's name, and retransfers it for the owner's benefit, the arrangement can meet the statutory elements of a benami transaction: the recipient is a benamidar, and cash may operate as both property and consideration. Immediate banking retransfer following attempted demonetised-cash conversion does not by itself remove the arrangement from the statutory definition. Attachment must account for tax paid and sums placed in interest-free disclosure bonds. Case-Laws Benami Property Thu, 30 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800871