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2024 (1) TMI 540 - AT - Benami PropertyProhibition of Benami Property Transactions - whether transactions are prior to the coming into force of Prohibition of Benami Property Transactions (PBPT) Act, 1988 as amended in 2016 i.e. 25.10.2016? - HELD THAT:- In the light of the judgments passed in the present matters by the Hon’ble High Court, Calcutta at Kolkata [2023 (3) TMI 1446 - CALCUTTA HIGH COURT] the appeals are disposed of with following conditions:- (i) It is however made clear that finding recorded by the Adjudicating Authority, either of facts or on law, would not be binding on either of the parties rather they would be at liberty to take up factual and legal issues in future, if so required, in the appropriate proceedings. This order is not to be taken in confirmation of the impugned order. (ii) It is also made clear that independent to the action taken by the Initiating Officer referring Benami Transactions of a period prior to the amendment by the Amending Act of 2016, if the Department has legal right under the law to take the proceedings, treating the amendment by the Amending Act of 2016 to be prospective, this order would not come in their way. It is however made clear that any such action should not offend the judgment of the Apex Court in the case of “Union of India & Anr. Versus M/s. Ganpati Dealcom Pvt. Ltd.” [2022 (8) TMI 1047 - SUPREME COURT]. In case, the Apex Court reviews its judgment having bearing on this appeal, the appellant would be at liberty to take appropriate remedies, which would may even a Review Petition before this Tribunal. In view of the above, the applications are allowed and the appeals are disposed of with the aforesaid directions/conditions.
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