Income Tax : Understand Benami property and transactions as per the PBPT Act. Learn what constitutes Benami, who the Benamidar and Beneficial O...
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 : Amendments to the PBPT Act, effective October 1, 2024, introduce new deadlines and immunity provisions for benamidars. Key changes...
Income Tax : Supreme Court held that attachment orders under the Benami Act cannot be challenged before NCLT under IBC, as the Act provides an ...
Income Tax : Tribunal held that an investment already assessed substantively in another person’s hands cannot again be taxed under Section 69...
Corporate Law : The Gujarat High Court quashed a property attachment order, holding that the 2016 Benami Amendment Act applies only prospectively....
Income Tax : Allahabad High Court halts benami proceedings against Arpit Jagga, questioning jurisdiction as the cash was already assessed under...
Corporate Law : Appellate Tribunal overturns Benami property attachment order in Rachakonda Srinivas Rao case, citing lack of ownership transfer a...
Income Tax : Finance Ministry updates special courts under Benami Act; Raipur and Jaipur court designations revised in July 2025 notification f...
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...
One of the draconian facet of the amended Prohibition of Benami Property Transactions Act, 1988 is the provisional attachment provided under Section 24 of the PBPT Act. In this piece we will discuss the prerequisites for valid provisional attachment under Prohibition of Benami Property Transactions Act, 1988.
Ashutosh Gupta and Gaurav Rana The burden of proof of a fact is the most crucial aspect in any legislation and disputes or litigation arising in the implementation of the legislation. Entire thrust of the litigation and also the fate of the parties to the litigation depends on this fundamental issue. In this piece we […]
Prohibition of Benami Property Transactions Amendment Act, 2016 will not be applicable retrospectively in both set of litigation i.e. pending cases (whether before trial court or appellate court) and fresh cases pertaining to past transactions
The retrospective applicability of Benami law has been a subject matter of controversy, particularly after the amendments introduced in year 2016. In this article, an attempt is being made to identify and analyse various issues involved, and discuss the present judicial stand on such issues pending final verdict by Hon’ble Supreme Court. A) Introduction: Originally, […]
Benami transaction means; a transaction or an arrangement, where the property is transferred to or held by a person, and consideration for such property has been provided or paid by another person.
Generally,due to following reasons, people enter into benami transactions: a) To invest unaccounted money. b) To invest money earned from illegal means, that is, through corruption, etc. c) To hide the ownership of the property from banks or creditors.
In recent times, the most complex question which has been pondered upon is in relation to the implications of Benami Law and Income Tax Act on the issues of share capital, loans, gift, gold/ jewellery, cash, immovable property or any investment/expenditure.
The issue under consideration is whether the Provisional Order of Attachment for Pending Adjudication is justified in law?
A journey into the evolution of the definition It is natural that the comprehensive analysis of the definition of benami transaction in the benami act has to start with reproducing the definition itself. Section 2(9) of Prohibition of Benami Transactions Act, 1988 defines Benami Transaction. As per this, Benami Transaction means: A. A transaction or […]
The Benami Transactions (Prohibition) Act, 1988 came into force on 19th day of May, 1988. It extends to the whole of India except the State of Jammu and Kashmir. The act was only in paper and was not implemented for the reason for which it was enacted. And due to operational difficulties, non-formation of rules and relation, the Act could never come into force.
