Applicability of the Benami Transactions (Prohibition) Amendment Act, 2016

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..... . Ltd. and others. The case was brought before the Madras High Court, challenging an order dated December 15, 2022, by the Appellate Tribunal for Prohibition of Benami Property Transaction Act, 1988 , New Delhi. Key Issues Retrospective Application of Law : The central issue was whether Section 5 of the Prohibition of Benami Property Transactions Act, 1988 , as amended in 2016, sh .....

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..... he court cited the Supreme Court's ruling that certain provisions of the unamended 1988 Act and the 2016 Amendment Act were unconstitutional for being manifestly arbitrary. Impact of Pending Review Petition : While acknowledging a pending review petition at the Supreme Court, the High Court held that this does not constitute grounds to overturn the Tribunal s decision. Disp .....

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..... nges : The acknowledgment of the pending Supreme Court review petition leaves room for future changes in the interpretation of this law. Conclusion The Madras High Court's decision in this case reinforces the principle of prospective application of punitive laws, aligning with the Supreme Court's interpretations. This judgment provides crucial guidance on the applicability of th .....

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