Tribunal for Prohibition of
Benami Property Transactions Act (PBPT) quashes the provisional attachment
of bank accounts of appellants (lecturers in a College run by an
Educational Trust) under the Benami law; Pursuant to search action u/s.
132 of the Income-tax Act on the Trust, it was found that the appellants
had received certain cash as advance salary on November 14, 2016 (i.e during
the demonetization period), Revenue had held the Trust’s Chairman as the
beneficial owner and appellant-employees as benamidars thereafter attaching
their salary bank accounts up to the value of the alleged “benami” property;
Firstly, Tribunal holds that the advance-salary received by appellants
would have to be treated as earned money and disclosed income, observes
that there is no material on record to show that the lecturers owned the
money illegitimately; Further Tribunal holds that disclosure of receipt in
cash in the sworn statements by the lecturer-appellants is insufficient to
construe the existence of a “benami” transaction, rules that the existence
of the “benami” transaction has to be proved by the authorities; Further
remarks that once the money has already been returned or adjusted against their
salaries, “the question of Appellant depositing any amount out of it in his
bank account did not arise.”
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