Taxmann’s Law Relating To Prohibition of Benami Property Transactions Act 1988 – 4th Edition April 2021

Taxmann’s Law Relating to Prohibition of Benami Property Transactions Act 1988 covers the following:

• Section-wise Commentary on Law Relating to Prohibition of Benami Property Transactions Act, 1988
• Ready Reckoner for the following:
  • [Alphabetical Reckoner] on Benami Law
  • Relatives in whose names, property can be purchased/held without Benami taint.
• Covers various FAQs on Law relating to Benami Transactions.

The Present Publication is the 4^th Edition, as amended by the Finance Act 2021, with the following noteworthy features:

• Thorough analysis of the Benami Laws
• Complete understanding of each appellate authority along with their powers
• Penalty and prosecutions linked with the Benami transactions
• Subject index to quickly find out the relevant matter

The detailed contents of the book are as follow:

• Chapter I – Preliminary
  • Short title, extent and commencement
  • Definitions
• Chapter II – Prohibition of Benami Transactions
  • Prohibition of Benami Transactions
  • Prohibition of the right to recover property held benami
  • Property held benami liable to confiscation
  • Prohibition on re-transfer of property by benamidar
• Chapter III – Authorities
  • Adjudication Authority
  • Authorities and jurisdiction
  • Powers of Authorities
  • Certain officers to assist in inquiry, etc.
  • Power to call for information
  • Power of authority to impound documents
  • Power of authority to conduct inquiry, etc.
• Chapter IV – Attachment, Adjudication and Confiscation
  • Notice and attachment of property involved in benami transaction
  • Manner of service of notice
  • Adjudication of benami property
  • Confiscation and vesting of benami property
  • Management of properties confiscation
  • Possession of the property
• Chapter V – Appellate Tribunal
  • Establishment of Appellate Tribunal
  • Composition, etc., of Appellate Tribunal
  • Qualification for appointment of Chairperson and Members of Appellate Tribunal
  • Terms and condition of services of Chairperson and Members of Appellate Tribunal
  • Term of office of Chairperson and Members
  • Removal of Chairperson and Members from office in certain circumstances
  • Vacancies, etc., not to invalidate proceedings of Appellate Tribunal
  • Resignation and removal
  • Member to act as Chairperson in certain circumstances
  • Staff of Appellate Tribunal
  • Procedure and powers of Appellate Tribunal
  • Distribution of business amongst Benches of Appellate Tribunal
  • Power of Chairperson of Appellate Tribunal to transfer cases
  • Decision to be by majority
  • Members, etc., to be public servants
  • Bar of jurisdiction of civil courts
  • Appeals to Appellate Tribunal
  • Rectification of mistakes
  • Right to representation
  • Appeal to High Court
• Chapter VI – Special Courts
  • Special Courts
  • Application of Code of Criminal Procedure, 1973 to proceedings before Special Court
  • Appeal and revisions
• Chapter VII – Offences and Prosecution
  • Penalty for benami transaction
  • Penalty for false information
  • Penalty for failure to comply with notices or furnish information
  • Proof of entries in records or documents
  • Previous sanction
• Chapter VIII – Miscellaneous
  • Repeal of provision of certain Acts
  • Certain transfers to be null and void
  • Exemption
  • Power of Central Government to issue directions, etc.
  • Application of other laws not barred
  • Offences to be non-cognizable
  • Offences by companies
  • Notice, etc., not be invalid on certain ground
  • Protection of action taken in good faith
  • Transfer of pending cases
  • Proceedings, etc., against legal representative
  • Act to have overriding effect
  • Power to make Rules
  • Laying of Rules and Notifications before Parliament
  • Power to remove difficulties
  • Transitional provision
  • Repeal and saving

Details