Benami s.26(1) — the law in short
What the courts have decided on section Benami s.26(1), in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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Shyamsundar Sharma v ACIT
High CourtHelps departmentNo later treatment found
The Initiating Officer has issued a s.24 notice and attached my accounts on the strength of a spreadsheet found in someone else's search. Will the High Court interfere now?
Not where the officer has set out his material. The Delhi High Court dismissed the writ petition, holding that the Initiating Officer had written in detail the reasons for believing the petitioner to be a benamidar — spreadsheets of bogus expenses recovered in a search, corroborated by statements of the beneficial owners — and that the Court would not interfere with that opinion when an efficacious remedy lay before the Adjudicating Authority under s.26, which can also revoke the attachment.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.
