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Financial assistance given by father to son for purchase of property is not benami transaction

April 10, 2019[2019] 104 taxmann.com 153 (SC)
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CL : Merely because some financial assistance has been given by father to sons to purchase properties, transactions cannot be said to benami in nature

• Where some financial assistance was given by Late G (further of plaintiff and defendants) at time of purchase of suit properties belonging to defendant sons, it was held that same could not be sole determinative factor/circumstance to hold transaction as benami in nature and purchase of suit properties in names of defendants could not be said to be benami transactions and, therefore, plaintiff daughter had no right to claim 1/4thshare in suit properties which were purchased by sons in their names by separate sale deeds.

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