Purchase of Shares in Liquidating Company Not Benami Ownership: SC

P. Eswaramoorthy Vs DCIT (Supreme Court of India) In a recent judgment by the Supreme Court of India, the case of P. Eswaramoorthy vs. DCIT was addressed. The central issue revolved around whether the purchase of shares in a company under liquidation could be considered as benami property ownership. This article provides an in-depth analysis of the case and its implications. Detailed Analysis: 1. Background: The case involved P. Eswaramoorthy, the appellant, who had purchased shares in a company undergoing liquidation. The question at hand was whether this acquisition of shares implied ownersh...