Law Relating To Prohibition of Benami Property Transactions Act 1988

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  • Author : Taxmann
  • Edition : 4th Edition
  • Date of Publication : April 2021

Description

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 4th 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

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