Principles of Benami Law

This book is a comprehensive treatise on Benami Law comprising the following:

• Detailed Analysis of Various Facets of Benami Law
• Interplay with Provisions of Various Related Enactments
• Rules of Evidence and its Applicability to Benami Transactions
• Issue of Retrospectivity and Perspectivity in the Operation of Law

This book will be helpful for tax administrations and tax professionals.

The Present Publication is the Latest 2023 Edition and has been amended by the Finance Act 2023. This book is authored by G.C. Das, with the following noteworthy features:

• [Explanation to the Minutest Details], which includes the following:
  • Procedure for Initiation of Benami Proceeding
  • Provisional Attachment
  • Issue of Summons and Impounding of Documents, etc., which are foundational requirements. This is an important feature of this book because if the foundational requirements fail, all subsequent proceedings may be void
• [Thorough Insights] on the following:
  • Law on Benami Transactions
  • Interpretation
  • Application in Various Practical Situations
• [Illustrations] are included in this book to bring out various facets of benami transactions
• [Detailed Overview of the Prohibition of Benami Property Transactions Act] that explains the provisions of the Act, including the penalties and prosecution for those entering into benami transactions
• [Comprehensive Explanation on the Operation of Benami Law] which is achieved by including discussions on the import of various substantive and procedural aspects of Benami Law and other Allied Laws
• [Frequently Asked Questions] are included at the end of the book to have a fair view of the law, at a glance, about the critical aspects relating to the Benami transaction

The detailed contents of the book are as follows:

• Evolution of the Concept of Benami Transactions in India – An Overview
• Concept of 'Benami' – Principles Evolved in Some Landmark Judgements
• Sham Transactions and its Characteristics – Changes Effected in Prohibition of Benami Property Transaction Act 1988
• Comparative Table of Various Provisions of the Principal Act 1988 and the Prohibition of Benami Property Transaction Act 1988 – At a Glance
• Definition of ‘Property’ and its Scope [Section 2(c) of the Principal Act 1988 and Section 2(26) of the Prohibition of Benami Property Transaction Act 1988]
• Benami Property [Section 2(8) of the Prohibition of Benami Property Transaction Act 1988]
• ‘Benami Transactions’ – Its Scope [Section 2(a) of the Principal Act 1988 and Section 2(9) of the Prohibition of Benami Property Transaction Act 1988]
• Exceptions to Operation of Section 2(9)(A) of the Prohibition of Benami Property Transaction Act 1988 Defining 'Benami Transactions'
• Exclusive Categories of Benami Transactions Stipulated in Clause (b), Clause (c) and Clause (d) to Section 2(9) of the Prohibition of Benami Property Transaction Act 1988
• Benamidar (Ostensible Owner) vs Beneficial Owner (Real Owner) [Section 2(10) and 2(12) of the Prohibition of Benami Property Transaction Act 1988
• 'Transfer' under the Prohibition of Benami Property Transaction Act 1988 & other Allied Concepts [Section 2(29) & Section 57 of the Prohibition of Benami Property Transaction Act 1988
• Consequences of entering into benami transactions – Aspects of defence [Section 3, Section 3 and Section 5 of the Principal Act, 1988 and Section 3, Section 4, Section 5 and Section 6 of the Prohibition of Benami Property Transaction Act 1988]
• Powers of Authorities to Conduct Enquiry [Sections 18, 19, 20, 21, 22, 23 of the Prohibition of Benami Property Transaction Act 1988]
• Power of Authorities [Issue of Summons under Section 19 of the Prohibition of Benami Property Transaction Act 1988]
• Power to Impound Documents [Section 22 of the Prohibition of Benami Property Transaction Act 1988]
• Issue of Show Cause Notice (SCN) and Provisional Attachment [Section 24 of the Prohibition of Benami Property Transaction Act 1988]
• Provisional Attachment [Section 24(3), 24(4) and 24(5) of the Prohibition of Benami Property Transaction Act 1988]
• Attachment, Adjudication and Confiscation [Sections 24, 26, 27, 28, 29, 30 to 48, 49, 50 to 52 & Section 66 of the Prohibition of Benami Property Transaction Act 1988]
• Special Court – Offence and Prosecution [Sections 50 to 55, 62, 64 and Section 2(16) of the Prohibition of Benami Property Transaction Act 1988]
• Issue and Service of Notice and Communication of Order [Sections 25 and 63 of the Prohibition of Benami Property Transaction Act 1988 & Order V of the Civil Procedure Code 1908]
• Operation of Benami Law & its Interplay with Income-tax Act 1961 [Sections 68, 69, 69A, 69B, 69C and 69D of the Income-tax Act – Sections 60 and 67 of the Prohibition of Benami Property Transaction Act 1988
• Interplay between Benami Law and other Enactments
• Operation of Benami Law [Retrospectivity and Prospectivity]
• Burden of Proof in Benami Transactions
• Intention and Benami Transaction
• Bona Fide Transaction – Scope of
• Fraud and Benami Transaction
• Doctrine of Substance over Form – Benami Law
• Benami Law and Rules of Evidence
• Action Points and Time Limts for various Actions under Prohibition of Benami Property Transaction Act 1988 – At a Glance
• Frequently Asked Questions (FAQs)