Taxmann’s "Law Relating to Prohibition of Benami Property Transactions Act, 1988" is a comprehensive legal commentary and reference book that provides an in-depth analysis of the Prohibition of Benami Property Transactions Act, 1988 (PBPT Act), especially after its significant amendments in 2016. Here's a typical description of what the book includes:
Taxmann’s Law Relating to Prohibition of Benami Property Transactions Act, 1988 offers a section-wise commentary on the PBPT Act, covering the legal framework, key definitions, procedures, and penalties related to Benami transactions. This book is particularly useful for legal professionals, tax practitioners, enforcement officers, chartered accountants, and students of law and taxation.
Detailed explanation of the concept of Benami transactions and what constitutes a Benami property.
In-depth analysis of each section of the Act including:
Section 2 – Definitions like 'Benami transaction', 'Benami property', 'Benamidar', etc.
Section 24 – Procedure for attachment of Benami properties.
Section 26 & 27 – Adjudication and confiscation process.
Commentary on the 2016 Amendment, which revamped the Act and introduced stricter provisions.
Practical guidance on litigation, burden of proof, and interpretation by courts.
Includes relevant notifications, circulars, and case laws.
Comparative analysis with related laws such as the Prevention of Money Laundering Act (PMLA), Income Tax Act, etc.
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Contents Overview
Prohibition of Benami Property Transactions Act, 1988 (as amended up to date)
Prohibition of Benami Property Transactions Rules, 2016 (as amended up to date)
Prohibition of Benami Property Transactions (Conditions of Services of Members of Adjudicating Authority) Rules, 2019
Benami Transactions Informants Reward Scheme, 2018
Preliminary & Definitions
Clarifies key terms such as 'Benami Transaction', 'Benamidar', 'Beneficial Owner', etc., with practical examples illustrating each facet.
Prohibition of Benami Transactions
Discusses the scope, legislative intent, transitional provisions, and punishments for offenders.
Authorities & Their Powers
Details the hierarchy of authorities, their jurisdictions, powers of inquiry, and the procedures for attachment, investigation, and confiscation.
Attachment, Adjudication & Confiscation
Examines the step-by-step process of provisional attachment, issuance of show-cause notices, adjudication by the authority, appeals, and final confiscation.
Appellate Tribunal & Judicial Remedies
Covers the establishment, composition, and procedure of the Appellate Tribunal, including rectifications, appeals to the High Court, and the bar of civil courts.
Special Courts & Prosecution
Elaborates on the role of Special Courts, sections from the CrPC that apply, and the entire prosecution process.
Offences, Prosecution & Penalties
Provides insight into statutory penalties for benami transactions, false information, and procedures for awarding sanctions to prosecute.
Miscellaneous & Appendices
Includes the Prohibition of Benami Property Transactions Rules 2016, Informants Reward Scheme, relevant notifications, sections from the Companies Act 2013, time extension provisions, etc.
Ready Reckoner: Listing permissible relatives for holding/purchasing property without attracting the taint of Benami.
Procedural Checklists: Step-by-step guides for compliance and litigation processes.
Model Pleadings: Templates for legal documents and filings.
Alphabetical Reckoner: Quick reference to Benami Law terms and provisions.
Shares Reckoner: Guidance on Benami transactions in shares.
Table of Cases: Comprehensive list of relevant case laws for quick research and application.
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