Benami transaction found; inconsistent pleadings and missing financial evidence prompt remand for de novo adjudication

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....AT held that a benami transaction, as defined under the Act, occurred. Noting material inconsistencies in the appellant's pleadings and lacunae in documentary proof - including contradictory dates, evolving averments, illegible bank statements, non-filing of relevant ITRs and bank accounts, and unexplained routing of funds through third parties - the Tribunal concluded that the record did not permit final resolution on whether the attached properties derived from the original benami proceeds. The AT set aside the impugned order and remitted the matter to the Ld. Adjudicating Authority under the PBPT Act for de novo adjudication, directing a fresh hearing and fuller fact-finding on the provenance of funds.....