Case Law Details
Tulsiram Vs ACIT (Benami Prohibition) (Chhattisgarh High Court)
To decide the core issue whether the amended Benami Transactions (Prohibition) Amendment Act, 2016 can be made applicable for initiating proceedings against the petitioner in respect of the properties which were purchased or acquired prior to 01.11.2016, it would be necessary to read the Prohibition of Benami Property Transactions Act, 1988 as a whole including the Provisions inserted by way of Act of 2016.
Sub Section 3 of Section 1 reads as under:
“(3) The provisions of Sections 3, 5 and 8 shall come into force at once, and the remaining provisions of this Act shall be deemed to have come into force on the 19th day of May, 1988.
The aforesaid section clearly indicates that the law as it stands shall be deemed to have come into force on the 19th day of May, 1988.
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