Mere Financial Assistance To Buy Property Cannot Be Termed Benami Transaction: SC [Read Judgment]

Ashok Kini

9 April 2019 8:37 PM IST

"Source of money had never been the sole consideration, and is only merely one of the relevant considerations but not determinative in character"

The Supreme Court has observed that mere financial assistance to buy a property cannot be the sole determinative factor/circumstance to hold the transaction as benami in nature. The issue before the bench comprising of Justice L. Nageswara Rao and Justice MR Shah in an appeal arising out of a suit filed by a lady (P. Leelavathi vs. Shankarnarayana Rao) against her brothers was...

Mere Financial Assistance To Buy Property Cannot Be Termed Benami Transaction: SC [Read Judgment]

Ashok Kini

"Source of money had never been the sole consideration, and is only merely one of the relevant considerations but not determinative in character"

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