The transaction where cash is paid to person in lieu of a future ...
Cash-for-Promise Deals Not "Benami" Transactions; Must Involve Name Lending or Benefit from Property Holder.
December 20, 2018
Case Laws Income Tax AT
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. There can be no “benami” transaction if the future benefit is due from the person who is also the holder of property.
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