TMI BlogProhibition of Benami Property Transaction - funds infused into the shell companies by multiple layering...Prohibition of Benami Property Transaction - funds infused into the shell companies by multiple layering in the guise of share capital or loan - as contended on the side of the appellants (Revenue) that Section 5 of the Prohibition of Benami Property Transactions Act, 1988, as amended by the Benami Transactions (Prohibition) Amendment Act, 2016 will have retrospective effect and therefore, the common order passed by the Tribunal, to the contrary, is liable to be interfered with. - pendency of th..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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