flats in Deepa Co-operative Housing Society had been booked in benami names. The assessees under consideration were those benamidars. The money for this investment ... Patel, who became the latter's agent for investment and provided benamis for this purpose. Shri Jayanti Patel now stays at the Nilkanth Society
taken by the assessee
from M/s Ankita Exports which is a benami/paper company of Shri
Bhanwar Lal Jain ignoring the admission ... providing accommodation entries of bogus
unsecured loans and advances through various Benami concerns (70)
operated and managed by them. This admission automatically makes
ratio that before arriving at a conclusion to hold certain entity as benami, there should have been certain material on record and only on that ... come to a conclusion that zone samiti was a benami agency of the appellant.
5. The CIT(A) dealt with all the objections raised
applications in the retail category through the medium of thousands
of fictitious/ benami IPO applicants with each application being for
small value ... also discovered that subsequent to the receipt of IPO
allotment, fictitious/benami allottees transferred the shares to those
who controlled those accounts who in turn
acquired by many entities
2
through the medium of thousands of fictitious/benami applications. For this purpose
the said entities (hereinafter referred ... operators) opened a large number of
demat accounts in fictitious and benami names and used those to make applications
for shares in the IPOs
been invested by various sister concerns of assessee-company in Benami names out of their unaccounted funds. Further, survey was carried out at the premises ... Sept., 1995, was in Benami names out of which Rs. 10 lacs was invested by various sister concerns. It was later clarified during the assessment
appeared to be made by one person, a number of depositors appeared Benami/bogus. Such FDRs which were found to be of a doubtful nature ... sense that the owner might be bogus/Benami totalled to Rs. 2.73 crores.
4. The assessee was asked to prove the genuineness of such depositors
assessee operated an entity called M/s Perfect Steel
Industries Similarly, other benami's were used in issuing
accommodation sales bills (purchase bills ... name of family members as
well in the names of Benami's at ABN AMRO Bank, Nariman
Point Branch, Indus Ind Bank, Nariman Point
Tribunal was right in holding that on the sale of properties held benami in the names of Nallendran Pillai and Late Thaimaman and others, capital ... assessee the real owner in spite of the provisions of the Benami Transactions (Prohibition) Act ?
3. Whether on the facts and in the circumstances
Alwaye range Rs. 2,27,609 Rs. 1,00,822
Income from benami business in
the name of Archana Jewellery ... Therefore, the Income-tax Officer concluded that Archana Jewellery was only a benami business of the assessee in the name of Sri Chellappan Achari. This
