Case Law Details
Case Name : Sri Rachakonda Srinivas Rao Vs Initiating Officer (Appellate Tribunal Under Safema At Delhi)
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Appellate Authority
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Sri Rachakonda Srinivas Rao Vs Initiating Officer (Appellate Tribunal Under Safema At Delhi)
The Appellate Tribunal under the SAFEMA at Delhi overturned an order attaching a commercial property under the Prohibition of Benami Property Transactions Act (PBPTA). The case involved Shri Rachakonda Srinivas Rao, M/s. ICON Constructions, and Smt. Sarda Devi. The original order by the Adjudicating Authority had confirmed a Provisional Attachment Order (PAO) on a commercial unit in Secunderabad, alleging it was benami property. The property’s sale consideration was Rs. 70,77,000, of which Rs. 9,...
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Author Bio
Dear Sir,
in the 12th para it is written by appellate tribunal that there is no evidence on record as to show that such infusions were made by the Beneficial Owner. But in para no. 7 it is mentioned that benamidar has given statement u/s 19(1). Then how can Appellate Tribunal say that they have nothing on record?