Question And Answer
Subject: Benami
Querist: BS
Answered by:
Date: April 30, 2023
Query asked by BS

Assets found from lockers in name of

1] relatives

2] employee

3] outsiders

are these Benami property ?



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Answer given by

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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