Law Relating to Prohibition of Benami Property Transactions Act 1988 By Taxmanns Editorial Board

Description:

This book provides an in-depth and practical guide to the Prohibition of Benami Property Transactions Act, 1988 (as amended), which is a key anti-corruption and anti-tax evasion law in India. It covers:

✅ Section-wise commentary on the Act, explaining the legal framework, scope, and interpretations

✅ Judicial precedents and case laws that clarify the application of the law

✅ Comparative analysis with other related legislations such as the Income-tax Act, Prevention of Money Laundering Act (PMLA), and Transfer of Property Act

✅ Detailed discussion on procedural aspects such as initiation of proceedings, attachment, confiscation, and adjudication

✅ Practical insights for professionals, lawyers, taxpayers, and enforcement officers on handling benami transaction issues

This edition is updated with the latest amendments, circulars, notifications, and relevant rules, making it a comprehensive reference for understanding the nuances of benami property laws in India.

Contents

1. About the Benami Law
   • Background and objectives of the Benami Transactions Act
   • Historical evolution and need for amendment
   • Scope and coverage
2. Prohibition of Benami Transactions
   • Definition and meaning of benami transactions
   • Exceptions to the prohibition
   • Test for identifying benami transactions
3. Authorities and Powers under the Act
   • Initiating Officer, Approving Authority, Adjudicating Authority
   • Roles, powers, and jurisdiction
   • Appellate mechanisms
4. Attachment and Confiscation of Benami Properties
   • Procedures for provisional attachment
   • Steps for adjudication and final confiscation
   • Rights and remedies available to affected parties
5. Penalties and Prosecution
   • Nature of penalties
   • Criminal liability and prosecution process
   • Offences by companies and firms
6. Procedural Aspects
   • Filing applications and appeals
   • Time limits and procedural safeguards
   • Role of special courts
7. Interaction with Other Laws
   • Comparison with Income-tax Act, PMLA, and other related laws
   • Interplay with civil and criminal laws
   • International perspectives
8. Important Notifications, Circulars, and Clarifications
   • Updated list of relevant government notifications and circulars
   • Practical guidelines issued by authorities
9. Case Law Digest
   • Summaries of key judicial pronouncements
   • Impact of rulings on interpretation and enforcement
10. Practical Insights & FAQs
    • Common issues faced by taxpayers and professionals
    • Practical guidance on compliance and dispute resolution
    • Frequently asked questions with expert answers