Cash Transfers Between Individuals Not Automatically 'Benami' Under Demonetization Rules: No Name Lending Involved.

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....Benami transaction - The authority has purely gone on the premise that cash is transferred from one person to another, with an object to defeat demonetization. This is insufficient to establish a “benami” transaction - The transaction where cash is paid to person in lieu of a future promise cannot be a “benami” transaction as there is no lending of name.....