| Question And Answer | |
|---|---|
| Subject: | Benami |
| Category: | General Law |
| Querist: | BS |
| Answered by: | Research Team |
| Tags: | Benami relative |
| Date: | April 30, 2023 |
Assets found from lockers in name of
1] relatives
2] employee
3] outsiders
are these Benami property ?
The assessee is able to explain the source and confirmation the property cannot be held to be benami . In case the explanation of the assessee is not satisfactory , the Assessing Officer can make addition as un explained investment under section 69 of the Act or under section 115BBE of the Act .
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