Income Tax : The Income Tax Department has issued comprehensive FAQs explaining what constitutes a benami property and benami transaction under...
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 : The Rajasthan High Court held that an order restoring appeals through review proceedings is not separately appealable under the Be...
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...
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...
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.
‘Benami’ transactions were treated as valid transactions by various courts, prior to promulgation of Ordinance in 1988. We know that word ‘Benami’ is a Persian compound word, made up of ‘be‘ which means without and ‘name‘ which means name that is ‘Benami’ means ‘Without name’. ‘Benami Transaction’ means a transaction which is affected by a […]
As the name indicates Benami property means a property without a name. In such kind of a transaction, the person who pays for the property does not buy it under his/her own name and motive behind such a transactions of this nature is to evade payment of tax.
Expanding the eligibility criteria for appointment of member of Adjudicating Authority under the Prohibition of Benami Property Transaction Act, 1988. The existing provisions of section 9 of the PBPT Act, inter-alia, provides that, a member of the Indian Revenue Service who has held the post of Commissioner of Income-tax or equivalent post in that Service; […]
Benami Property: Any property which is the subject matter of a benami transaction and also includes the proceeds from such property. Benamidar: A person or a fictitious person, as the case may be, in whose name the benami property is transferred or held and includes a person who lends his name.
Where a property held by a person (Benamidar) and consideration has been paid by another person (Benefiacial owner) & The property is held for the immediate or future benefit, directly or indirectly for the person who has paid the consideration.
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 […]
Note on Retrospective Operation Of Benami Transactions (Prohibition) Act, 1988: Section 1(3) provides that ‘the provisions of section 3, 5 and 8 shall come into force at once (5th September 1988) and the remaining provision of this Act shall be deemed to leave come into force on the 19th day of May,1988. The decision of […]
Ganpati Dealcom Pvt. Ltd. Vs Union of India & Anr. (Calcutta High Court) By an amendment an existing Act is supplemented by new provisions adding to or subtracting from it. It is usual that parts of the existing Act are retained. Say for example, there is a provision in the existing Act for penalty in […]
Simmant Kohli Vs Union Of India (Madhya Pradesh High Court) The Court opined that pending final adjudication whether property is in the name of petitioner are ‘Benami’ property or not, the authorities concerned have passed an order of provisional attachment as a matter of precaution, until the dispute is finally resolved, no interference is warranted. […]
