Benami Act

Centre moves SC, seeks open court hearing on plea for review on Benami law

The Centre on Tuesday sought from the Supreme Court an open court hearing on its plea seeking review of the judgement by which several provisions of the Benami Transactions (Prohibition) Amendment Act, 2016 were struck down. A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha was urged by Solicitor General Tushar Mehta, appearing for the Centre, that the review plea be heard in open court keeping in mind the importance of the issue. This is an unusual request. We seek an open court hearing of the review. Due to this judgement, a lot of orders are being passed even though some of the provisions of the Benami Act was not even under challenge. Like the retrospectivity could not have been looked into (by the SC bench), the top law officer said. We will consider it, the CJI said. The top court, on August 23 last year, had struck down some provisions of the Benami law. One of the struck down provisions provided for the punishment of a maximum jail term of three ye

Assets worth Rs 18,400 crore attached under Benami Act till July 31: Report

Till July 31, the I-T Department had issued notices in 3,175 cases amounting to Rs 19,222 crore

Benami Law: What is the Benami Transactions (Prohibition) Act, 1988?

Introduced in 1988 and amended in 2016, the Benami Transactions (Prohibition) Act prohibits Benami transactions and gives the government the right to recover Benami property

After SC verdict on Benami law, experts weigh in on the Black Money law

The Black Money law penalises the concealment of foreign income and imposes criminal liability for attempting to do so

What is 1988 Benami Property Act and Benami Transaction Amendment Act 2016

Supreme Court termed 'The Benami Act' unconstitutional. What is the 1988 Benami property act? What is the Benami Transaction Amendment Act 2016? Why is it unconstitutional? Read to know everything

Supreme Court rules that benami law cannot be applied retrospectively

Says section 3 of the 2016 amendment Act is unconstitutional

Top headlines: SpiceJet scouting for funds; markets may fund road projects

Road Transport Minister Nitin Gadkari on Tuesday said the government will approach the capital market next month to raise funds for four road projects

Record number of searches in FY22 as tax offences get money laundering tint

With three months still to go for the year to end, total 'undisclosed income' is about Rs 32,000 cr, far eclipsing the FY19 level of Rs 18,600 cr

I-T records Robert Vadra's statement in Benami properties case

The Income Tax Department officers on Monday started recording the statement of Robert Vadra in connection with a benami properties case

Benami properties of Rs 43 bn attached; Jaipur and Mumbai top the list

Patna has seen the least number of attachments at 30, followed by Lucknow at 50, while in Kolkata, Chandigarh, and Hyderabad, 144, 110, and 100 properties got attached, respectively

Rs 15 cr cash deposits made after demonetisation declared benami

The depositor and the beneficial owner of the stash have gone "untraceable" since the action was launched against them by the I-T Department

Will new benami law be given retrospective effect? Delhi HC asks I-T dept

HC posed the queries to the I-T dept while hearing Delhi Health Minister Satyendra Jain's plea

No escape for Benami Act violators: 7 years in jail, huge penalty if caught

I-T dept issued advertisements in leading national dailies

I-T begins action under Benami Act; attaches 42 assets worth crores

The I-T dept has issued 87 notices under section 24 of the said Act

All you should know about New Benami Act that comes into effect from Nov 1

New legislation to have a provision for seven-year imprisonment and fine, replacing the three-year jail term, or fine, or both