Benami Transactions - family arrangement - exception in Section ...

Case Laws Direct Taxes

April 22, 2023

Benami Transactions - family arrangement - exception in Section 4(3)(a) of the Benami Act - The bar of Benami under Benami Act requires examination of factual aspects including the exceptions to Section 2(9) and 4(3). The question whether a transaction is Benami or not is therefore one of fact requiring evidence. - That being the position, such questions in view of paragraphs 50, 54, 56 of Nusli Neville Wadia vs. Ivory Properties [2019 (10) TMI 1314 - SUPREME COURT] cannot be decided under Section 9A. - HC

View Source

← Previous Next →

Benami Transactions - family arrangement - exception in Section ...

Case Laws Direct Taxes

April 22, 2023

You may also like:

Benami Property Transaction - title over the suit properties - Moreover purchase of a property by husband in the name of the wife cannot be called a benami transaction...

Prohibition of Benami Property Transactions - Petitioner contends that the Petitioner as the head of a joint family representing him and his brothers are absolute owners...

Shares received by the appellant as gift - The chart reproduced in the Assessment Order clearly shows that it is not a gift but a family arrangement and these kind of...

Benami transaction - availability of joint family property or income - joint family acquisition - Purchase of property in the name of wife (Mrs. A) - Presumption of...

Benami transaction - burden of proof - principle of preponderance of probability that although the suit property was purchased in name of Wife but the consideration...

Benami transaction or not - claim of share in the properties - family dispute - inheritance - purchase of property in the name of wife by the deceased husband - learned...

Benami transactions - The existence of the “benami” transaction has to be proved by the authorities i.e. the person who alleges the transaction - The transaction where...

Addition u/s 56(2)(vii)(b) - transfer under gift deed - family settlement- The Assessee contended that the transfer of land through a gift deed was part of a family...

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...

The ITAT Ahmedabad addressed the validity of an assessment by the AO on issues beyond those covered by a notice u/s 143(2) issued under CASS for limited scrutiny,...

Addition on account of diversion of income - The assessee is a simple dealer in grains and obviously does not have any big brand name of his own but simply purchasing...

Long term capital gain - re-alignment of shareholding pursuant to family settlement arrangement - The assessee did not receive any share from the family of her husband....

Benami transaction - commercial complex as been leased out to the company by the JDA - The entire fulcrum of this case, therefore, rests on misinterpretation of the...

Benami transactions - offence under Benami Act - onus of proving a benami transaction - after amendment, the onus of proving a benami transaction rests entirely on the...

Appellant Directorate attached 29 properties in a benami transaction case. Adjudicating Authority excluded properties bought in the name of a family member, shifting...

Quick Updates: