Corporate Law : Learn about Benami properties, their definition, motive, and legal implications. Explore examples of Benami transactions and the c...
Income Tax : Understand changes to the provisions of the PBPT Act,1988 with budget 2023 - Section 46 appeals & more...
Income Tax : Understand the impact of Benami transactions and property dealings. Learn about the legal implications and consequences of such tr...
Corporate Law : Learn about the Benami Transactions (Prohibition) Amendment Act, 2016 and the measures taken to confiscate Benami property in Indi...
Income Tax : SC held that revenue department cannot initiate criminal proceedings for transactions entered into prior to the Benami Transaction...
Corporate Law : Explore the legal intricacies of Santosh Bhadoriya's challenge against a show cause notice and provisional attachment order under ...
Income Tax : Explore the Madras High Court's stance on applying Section 5 of the Amended Prohibition of Benami Property Act retrospectively. An...
Corporate Law : Kerala High Court dismissed the writ petition as provisional attachment made u/s 24(4)(b)(i) of the Prohibition of Benami Property...
Corporate Law : Calcutta High Court allows re-hearing and extension to file objections in a case concerning Section 24 of the Prohibition of Benam...
Income Tax : Brightcareer Consultancy Services Pvt. Ltd. Vs Union of India (Bombay High Court) HC quashed proceedings under Benami Transactions...
Income Tax : Read latest notification (No. 04/2023) from Ministry of Finance, Department of Revenue, allocating jurisdiction among Competent Au...
Income Tax : Central Government allocates jurisdiction among Competent Authorities authorized under section 5(1) of Smugglers and Foreign Excha...
Income Tax : (1) These rules may be called the Prohibition of Benami Property Transactions (1st Amendment), Rules, 2019. (2) They shall come in...
Learn about the Benami Transactions (Prohibition) Amendment Act, 2016 and the measures taken to confiscate Benami property in India.
SC held that revenue department cannot initiate criminal proceedings for transactions entered into prior to the Benami Transaction (Prohibition) Amendment Act, 2016
Section 3(2) of the unamended 1988 Act is declared as unconstitutional for being manifestly arbitrary. Accordingly, Section 3(2) of the 2016 Act is also unconstitutional as it is violative of Article 20(1) of the Constitution.
V. Vasanthakumar Vs Union of India (Madras High Court) Section 32(2)(a) of the Prohibition of Benami Property Transactions Act, 1988, postulates the qualifications for appointment of a Judicial Member and, as per the said provision, a Member of the Indian Legal Service who held the post of the Additional Secretary or equivalent post in that […]
Prevention of Money Laundering Act (PMLA), 2002 and The Benami Transactions (Prohibition) Amendment Act, 2016 in India A. Prevention of Money Laundering Act (PMLA), 2002 1. Introduction on the PMLA (i) Definition of PMLA is given under section 3 of the PMLA, 2002 where any activity of Money Laundering is involved for the purpose of […]
It is very common to purchase property in the name of our close relatives like spouse, children, parents and siblings. However it is important for us to understand from the legislative perspective, are we allowed to purchase the property in name of our relatives? If we are allowed to purchase the property on behalf of […]
In present facts of the case the Hon’ble High Court have allowed the writ petition filed by the Company, wherein it was held that so far as the ownership of land is concerned, each company has right to purchase property and the Benami Act, 1988, would not extend to properties purchased by the company.
In present facts of the case, the Hon’ble High Court dismissed the writ petition by making observations that the due procedure of law was followed by the Respondents under Section of the 24(4)(a)(i) of the Benami Transactions (Prohibition) Amendment Act, 2016.
Central Government allocates jurisdiction among Competent Authorities authorized under section 5(1) of Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 for the purpose of section 7 of the Prohibition of Benami Property Transactions Act 1988 MINISTRY OF FINANCE (Department of Revenue) (COMPETENT AUTHORITY CELL) New Delhi Notification No.02 of 2021 | Dated: 19th […]
Deific Abode LLP Vs Union of India (Calcutta High Court) The fundamental point of contention, as advanced by Mr. Khaitan, learned Senior Advocate, appearing on behalf of the petitioners, is the unconscionable and illegal ‘retrospective applicability’ of the 1988 Act, leading to these proceedings. When the matter was last taken up, Mr. Khaitan had conspicuously […]
