Demonetized Cash Treated as Benami Property as Funds Were Routed Through Third-Party Account

Smt. Santosh Miglani Vs Initiating Officer (Appellate Tribunal Under SAFEMA Delhi) The appeal was filed under Section 46(2) of the Prohibition of Benami Property Transactions Act, 1988 (PBPT Act) against an order dated 27.07.2018 passed by the Adjudicating Authority confirming attachment of the appellant’s bank account to the extent of Rs. 5,00,000, while releasing attached immovable properties. The proceedings originated after the Deputy Director of Income Tax informed the Initiating Officer that a bank account maintained by M/s Shyama Trading Company had been used for deposit of demonetize...