AT determined that M/s RK Emporium is not a shell company, and ...

Shell Company Claims Dismissed: Lack of Evidence Clears RK Emporium's Transactions Under Section 2(9)(A) of PBPTA

April 15, 2025

Case Laws     Benami Property     AT

AT determined that M/s RK Emporium is not a shell company, and the absence of Benamidars does not create a presumption of impropriety. Despite suspicious circumstances like bank credits during demonetization, the investigation failed to establish evidence of a benami transaction under Section 2(9)(A) of PBPTA. Consequently, the tribunal set aside the impugned order, lifted the provisional attachment of Rs. 1.12 crore from the appellant's bank account, and allowed the appeal, finding insufficient proof to substantiate claims of a benami property transaction.

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