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HomeDirect TaxCash Seized Without Verifiable Source Can Be Treated as Benami Property; Filing...

Cash Seized Without Verifiable Source Can Be Treated as Benami Property; Filing ITR Later Doesn’t Bar Action: SAFEMA Appellate Tribunal

Direct Tax

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By Mariya Paliwala
Cash Seized Without Verifiable Source Can Be Treated as Benami Property; Filing ITR Later Doesn’t Bar Action: SAFEMA Appellate Tribunal

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The Appellate Tribunal under the Prohibition of Benami Property Transactions (PBPT) Act has dismissed an appeal challenging attachment of ₹50.13 lakh cash seized by authorities, holding that unaccounted cash with an unexplained source can fall within the ambit of “benami property” under the PBPT Act and that a subsequent willingness to declare the amount in…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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