Order attaching the bank account on the presumption that the amount was advanced to bring demonetised money in to circulation was set aside .The attached properties are released on the ground that the authorities have failed to discharge the burden .Followed Sitaram Agarwal v. Subrata Chandra ( 2008) 7 SCC 716 .
V. Rajinikanth. v. DCIT (2019) 260 Taxman 47 (PBPTA – AT)/T. Raja v. K.Visakha ( 2019) 260 Taxman 225 ((PBPTA – AT)
Prohibition of Benami Property Transactions Act, 1988 S.2(9):
Benami transaction- Advance salary -Allegation of amount was advanced to bring demonetised money in to circulation – Order attaching the bank account was set aside – The authorities have failed to discharge the burden. [ S. 2(5),3,24, 46, PMLA ,2002 , S. 2(u) ]