https://www.taxtmi.com/highlights?id=104886 Cash is movable property capable of being held benami. Where a beneficial owner supplies demonetised cash to a third party, who deposits it in that person's bank account and retransfers the funds through banking channels, the third party lends their name and holds the resulting bank balance for the provider's benefit. The cash constitutes consideration for the bank balance, and the retransfer evidences beneficial ownership; the duration of holding is immaterial. The transaction was treated as benami, with attachment limited to the remaining balance and the amount held in an interest-free bond, subject to tracing unavailable funds. en-us Tue, 13 Oct 2026 10:00:06 +0530 Tue, 13 Oct 2026 10:00:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104886 Cash is movable property capable of being held benami. Where a beneficial owner supplies demonetised cash to a third party, who deposits it in that person's bank account and retransfers the funds through banking channels, the third party lends their name and holds the resulting bank balance for the provider's benefit. The cash constitutes consideration for the bank balance, and the retransfer evidences beneficial ownership; the duration of holding is immaterial. The transaction was treated as benami, with attachment limited to the remaining balance and the amount held in an interest-free bond, subject to tracing unavailable funds. Highlights Benami Property Tue, 13 Oct 2026 10:00:06 +0530 https://www.taxtmi.com/highlights?id=104886