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Direct Taxes - Highlights / Catch Notes

Home Highlights October 2021 Year 2021 This

Benami transaction - commercial complex as been leased out to ...

Direct Taxes

October 8, 2021

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 provisions of the Benami Act, 1988. All the transactions in the corporate world made by the company would become benami transaction if the interpretation of definition as understood by the respondents is accepted by this Court. The entire proceedings initiated under the Benami Act, 1988 deserve to be quashed and set aside. - HC

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