No that's a taxable and accounted money can't be benami
Respected lawyers, Are there any Supreme Court judgements in which Money earned & taxed in UK sent through bank account by NRI to father and brothers has been termed as benami money. Please advise
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Dear Sir,
The following information may kindly be read:
Understanding the Meaning of a Benami transaction through Examples:
As it could be very difficult to know the meaning of the Benami Transactions just by reading the same, I have given following 15 examples to really understand the meaning:
If amount is earned in UK and taxes of same are paid and sent through account to relatives as gift or loan it is not banani property.
There`s nothing like Benami Money but benami transaction or benami property. And transfer of money not concealed and open in return and statement - source is known, So it shall be consider either custodian of your money or gift. If you show gift in your return.
Neither property hold benami status if in the name of his brother or sister.
No it will be not called as benami amount.
Its foreign land income and taxable in normal conditions of NRI, receiver.
No the money sent to father and brother for their expenses is not benami as this is earned in foreign exchange than it is not liable to tax and increases money is used to purchase any property that is valid and there is nothing to do with the enemy property as the source of income is known
NRIs don't have to pay taxes when they transfer money to India. Since they already pay tax on the amount earned in the country where they are working, they are not required to pay further tax on the same money, money sent to relatives through online is not benami.
Respected lawyers, I had filed suit for declaration and vacant possession in O S in trial court. During trial court interim order the defendants violated court order by changing katha of the property and creating huge mortgage on suit property and using this money to purchase another property in his own name all of this was admitted by defendants in the cross examination on confronting with the documents.Trial court awarded decree in my favour. The defendants filed a RFA in high court challenging the decree in O S.They also filed application for stay and application to produce additional documents. High court taking into account the merit of the case passed a detailed order by rejecting stay application of appellants and posted RFA admission to call for LCR. At this point Court sale deed was already executed in my favour in pursuant to decree by executing court and delivery warrant had been issued by execution court. The appellants in RFA filed a SLP in Supreme Court The main prayer in SLP was that they requested for special leave to appeal against the detailed order of high court and interim prayer to stay all proceedings in execution court The Supreme Court order to this SLP was as follows We are not inclined to interfere with the impunged order. The operation of high court order is stayed and effect of grant of stay is that the operation of judgement which is impunged in the RFA shall remain stayed. However high court is requested to ensure expeditious disposal of RFA In view of the above SLP is dismissed And pending application stand disposed of I was the respondent in the SLP Query What is the interpretation of the above order? What is Supreme Court has tried to do here? What is the meaning of not inclined to interfere with impunged order? What is the meaning of SLP dismissed?
1) SC has directed expedited hearing of RFA
2) it has directed stay of Hc order which is challenged in appeal
3) SLP has been disposed of by SC by granted expedited hearing of RFA and till then HC order is stayed
1. See the SC has stayed the order of High court and granted stay.
2. The SC has given order to expedite the RFA and stayed the order below.
3. Not of view to change the order just they have provided stay on same.
4. SLP is disposed off, no pending petition in SC.
It's rather a contradictory order. It says that the high court order will sustain but the stay is also given for high court order with a direction to dispose RFA
The orders passed by high court dismissing the stay order has been stayed by the supreme court in the SLP judgment.
By mentioning that the supreme court is not inclined to interfere in the high court impugned order means it has not gone into the details of the stay application or trial therein in that application but has advised the high court that the impugned order of the high court has been stayed and the high court has been instructed to dispose the RFA pending before it in an expeditious manner.
Thus the by stating that the SLP is dismissed, the supreme court expresses that it did not entertain the sLP for any other reliefs except by an order of granting stay on the high court order to dismiss the stay petition.