HEIRS OF VRAJLAL J. GANATRA(DEAD) vs HEIRS OF PARASHOTTAM S.SHAH(DEAD)

The Supreme Court addressed the issue of benami transactions under the Benami Transactions (Prohibition) Act, 1988, specifically Section 4(1). The Court held that the provisions of the Act are prospective and do not apply to transactions prior to its enactment, thus the sale-deed from 1963 remains valid. The Court emphasized that the determination of whether a transaction is benami depends on the intention of the parties involved, placing the burden of proof on the claimant asserting the transaction's benami nature. The appeal was dismissed, affirming the High Court's ruling on the matter.