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Direct Taxes - Highlights / Catch Notes

Home Highlights May 2023 Year 2023 This

Constitutional validity - Amendment to Prohibition of Benami ...


Supreme Court Rules Pre-2016 Benami Property Transactions Immune from Prosecution and Confiscation Under Amended Act.

May 10, 2023

Case Laws     Direct Taxes     SC

Constitutional validity - Amendment to Prohibition of Benami Property Transactions Act, 1988 - Concerned authorities cannot initiate or continue criminal prosecution or confiscation proceedings for transactions entered into prior to the coming into force of the 2016 Act, viz., 25.10.2016. As a consequence of the above declaration, all such prosecutions or confiscation proceedings shall stand quashed. - SC

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