Taxmann's Law Relating to Prohibition of Benami Property Transactions Act 1988

Contents

% ' !

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. / ) 4 # % 3

CHAPTER I

T N E M E C N E M M O C D N A T N E T X E E L T I T T R O H 3

PRELIMINARY . / ) 4 # % 3

S N O I T I N l E $

D L E H Y T R E P O R P R E V O C E R O T T H G I R E H T F O N O I T I B I H O R 0

341 S N O I T C A S N A R T

PROHIBITION OF BENAMI TRANSACTIONS

F O N O I T I B I H O R 0

N O I T A C S l N O C O T E L B A I L

D L E H Y T R E P O R 0

Y B Y T R E P O R P F O R E F S N A R T E R N O N O I T I B I H O R 0

AUTHORITIES

Y T I R O H T U !

G N I T A C I D U J D !

447

18.

456

S E I T I R O H T U A F O S R E W O 0

8. to [Omitted by the Finance Act, 2021, w.e.f. 1-7-2021] 17.

N O I T C I D S I R U J D N A S E I T I R O H T U !

C T E Y R I U Q N I N I T S I S S A O T S R E C l F O N I A T R E #

N O I T A M R O F N I R O F L L A C O T R E W O 0

S T N E M U C O D D N U O P M I O T Y T I R O H T U A F O R E W O 0

C T E Y R I U Q N I T C U D N O C O T Y T I R O H T U A F O R E W O 0

I-5

485

22.

481

20.

490

23.

483

21.

478

19.

414 benami

5.

446

7.

441 benamidar 6.

369 benami 4.

59 2.

benami

3.

25 1.

I-9 z

Alphabetical Reckoner to Benami Law z

Benami Transactions in Shares Reckoner

I-61 z

Section-wise Table of Cases

I-63

CHAPTER II

CHAPTER III

3 4 . % 4 . / #

N O I T C A S N A R T

ATTACHMENT, ADJUDICATION AND CONFISCATION

N I D E V L O V N I Y T R E P O R P F O T N E M H C A T T A D N A E C I T O .

E C I T O N F O E C I V R E S F O R E N N A -

Y T R E P O R P E H T F O N O I S S E S S O 0

Y T R E P O D R E P T A C S l N O C S E I T R E P O R P F O T N E M E G A N A Y T R E P O F R O P G N I T S E V D N A N O I T A C S l N O # F O N O I T A C I D U J D !

APPELLATE TRIBUNAL

L A N U B I R 4 E T A L L E P P !

F O T N E M H S I L B A T S %

L A N U B I R 4 E T A L L E P P !

F O

C T E N O I T I S O P M O #

F O S R E B M E D N A N O S R E P R I A H # F O T N E M T N I O P P AL A RN OU F B SI NR O4 I T E A T CA lL L I LE A P UP 1!

S R E B M E D N A N O S R E P R I A H # F O S E C I V R E S F O SL NA ON I U T I B D I NR O4 CE T DA NL L AE SP MP R! E F 4O S R E B M E D N A N O S R E P R I A H # F O E C l F O F O M R E 4

N I A T R E C N I E C l F O M O R F R E B M E D N A N O S R E P R I A H S #E C FN O A LS T A VM OU MC EI R 2C

L A N U B I R 4 E T A L L E P P !

F O S G N I D E E C O R P E T A D I L A V N I O T T O N

C T E S E I C N A C A 6

L A V O M E R D N A N O I T A N G I S E 2

S E C N A T S M U C R I C N I A T R E C N I N O S R E P R I A H # S A T C A O T R E B M E -

L A N U B I R 4 E T A L L E P P !

F O F F A T 3

L A N U B I R 4 E T A L L E P P !

F O S R E W O P D N A E R U D E C O R 0

L A N U B I R 4 E T A L L E P P !

F O S E H C N E " T S G N O M A S S E N I S U B F O N O I T U B I R T S I $

S E S A C R E F S N A R T O T L A N U B I R 4 E T A L L E P P !

F O N O S R E P R I A H # F O R E W O 0

Y T I R O J A M Y B E B O T N O I S I C E $

S T N A V R E S C I L B U P E B O T

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L A N U B I R 4 E T A L L E P P !

O T S L A E P P !

S E K A T S I M F O N O I T A C l I T C E 2

N O I T A T N E S E R P E R O T T H G I 2

T R U O # H G I ( O T L A E P P !

647

48.

622

46.

650

49.

637

47.

620

45.

617

43.

615

41.

619

44.

616

42.

609

40.

607 38.

604 36.

608

39.

605 37.

601 35.

598 33.

596 32.

599 34.

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593 31.

581 benami

591 30.

587

589 29.

554 27.

552 25.

benami 26.

493 benami

24.

I-6

CHAPTER IV

CHAPTER V

S G N I D E E C O R P O T

E R U D E C O R 0 L A N I M I R # F O T ER DU OO ## L FA O I C NE OP I 3 T A E CR I L O P F PE !B N O I S I V E R D N A L A E P P !

N O I T C A S N A R T

OFFENCES AND PROSECUTION

R O F Y T L A N E 0

N O I T A M R O F N I E S L A F R O F Y T L A N E 0

N O I T A M R O F N I H S I N R U F R O S E C I T O N H T I W Y L P M O C O T E R U L I A F R O F Y T L A N E 0 S T N E M U C O D R O S D R O C E R N I S E I R T N E F O F O O R 0

N O I T C N A S S U O I V E R 0

MISCELLANEOUS

S T C !

N I A T R E C F O S N O I S I V O R P F O L A E P E 2

D N A

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C T E S N O I T C E R I D E U S S I O T T N E M N R E V O ' L A R T N E # F O R E W O 0

D E R R A B T O N S W A L R E H T O F O N O I T A C I L P P !

E L B A Z I N G O C N O N E B O T S E C N E F F /

S E I N A P M O C Y B S E C N E F F /

S D N U O R G N I A T R E C N O D I L A V N I E B O T T O N

C T E E C I T O .

H T I A F D O O G N I N E K A T N O I T C A F O N O I T C E T O R 0

S E S A C G N I D N E P F O R E F S N A R 4

E V I T A T N E S E R P E R L A G E L T S N I A G A

C T E S G N I D E E C O R 0

T C E F F E G N I D I R R E V O E V A H O T T C !

S E L U R E K A M O T R E W O 0

T N E M A I L R A 0 E R O F E B S N O I T A C l I T O N D N A S E L U R F O G N I Y A ,

S E I T L U C l F I D E V O M E R O T R E W O 0

N O I S I V O R P L A N O I T I S N A R 4

G N I V A S D N A L A E P E 2

765

71.

SPECIAL COURTS

S T R U O # L A I C E P 3

767

72.

763

70.

759

68.

753

66.

762

69.

758

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752

65.

744

63.

735 61.

751

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737

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734 60.

732 58.

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733 59.

730 null

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726 56.

722 54B.

716 54.

725 55.

719 54A.

683 benami

53.

678 51.

682 52.

675 50.

3 4 . % 4 . / #

I-7

CHAPTER VI

CHAPTER VII

CHAPTER VIII

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771 BENAMI

APPENDIX 1 :

I-8

APPENDICES

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S. 3 341

2J.5 WORDS AND EXPRESSIONS USED IN THE ACT BUT NOT DEFINED

PROHIBITION OF BENAMI TRANSACTIONS]

ibid.

(Contd on p. 342)

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Para 3.2 343

-

3.2 DATE OF COMING INTO FORCE OF SECTION 3

3 . / ) 4 # !

3 . !

2 4 ) ! . % " & / . / ) 4 ) " ) ( / 2 0

=

N O I T C E 3 R E P S A ;

N O I T C E S B U 3

= F L E S T I

N O I T C E 3 R E P S A ;

N O I T C E S B U 3

IS MNC AOEN S I NT O B ECU I A T BS C 3E N SA T S I R B B T I I U H OM S R N PA I N E N O BMI

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A O E S HN L IDB N T OC A A I E H T S NC S I AB OS N I SU T NUN C S A OP ER NT I 3T A I

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R. Raja-

gopal Reddy

-

i.e.

344 S. 3

3.3 PROVISIONS OF SECTION 3 IN BRIEF.

-

-

While section 3 provides for criminal liabilities of entering into a benami transaction, the civil consequences of benami transactions are specified in sections 4, 5, 6, 7 and 18 to 49.

3.4 WHAT IS THE DATE OF COMING INTO FORCE OF THE PROHIBITION IN SECTION 3(1)?

i.e.,

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Applicable sections

Punishment for benami transactions

Definition of ‘benami transaction’ applicable

When benami transaction entered into

9 Arun Das Tulsiram Ganpati

Smt. Aparna Das Asstt. CIT Dealcom (P.) Ltd. v. Union of India

Para 3.4 345

Sri Arun Das

Tulsiram Ganpati Dealcom (P.) Ltd.

FOR STATES AND UNION TERRITORIES OTHER THAN JAMMU & KASHMIR AND LADAKH

9

3 . / ) 4 # !

3 . !

2 4 ) ! . % " & / . / ) 4 ) " ) ( / 2 0

Applicable sections Punishment for benami transactions

T TSN TAEFII F COIWN C M AA TVAEEE

! BOA O OL U

T S R T D M M R A LEN N N E L PYYYY HE IAD N4HA S R O0THTBN RRENARAO A T " S O P P O I O S H F T I R F T S 0 T T F T C O D D E I O I U E C O I I N T EED D N T T M AN O O I 3H E A YES A IOT SVT VR EANE V SLCN =T NA SAC N T F R I O N AEE ORFRO C OE REUE FP I R I !O DS HBT OOOT PGFT

Definition of ‘benami transaction’ applicable When benami transaction entered into

-

-

-

GFF ) C l NOOA ) D E I SN Y N N WT A E E L OI CABRR L U R L E O GNT N A E F D F EF I)WI BO M OM L A A EL N L N N A E A HH OI EI E HB 4S B TC T -

RT SYNI E NEM HEA A B T N A O

OSOEN B E O YHCT I NWU OC T TA ANDNN ONO S SISIN R R )E RA ) REE R ) POPT T

-

SE RDFIA M B N O E A L L PU N OE A H YFHE S N N TBO E A FFI T SO H O C EI E R YEAV S T E C NO L HNU I NA B OGE RA 7S FT

-

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RY E RSA L S MOE A B EM AIFLY S HU T SO T O I H EC N N NN RE I UO GMMOH PI N R R W OE N HS T T AU ITH I R )W B PAT

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346 S. 3

# % 3 . ) . / ) 4 ) " ) ( / 2 0 & / % # 2 / & / 4 . ) ' . ) / # & / % 4 ! $

S R A E Y

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P EO LTA L

K A EM RRN HL SB OAPI O A E H T T I HC CDMT L I R E N H I )EW F3 A EF ) B T O ;

Applicable sections Punishment for benami transactions

FTOH OC TI T DW !!E XR D A IE U T I L QP NEEM OMRO I

T O C C C EN E 3) B E L B A H S I N U P T O .

L Y A CR X I AA EC S I NSD NI AD U R RAJ 4O ENS I CIN O MNNDI S AIAEI N L NNR I C A EI OAL E "T PPD E L I H W

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Applicable sections Punishment for benami transactions Definition of ‘benami transaction’ applicable When benami transaction entered into

-

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D N A

S N" O I T

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9

-

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Para 3.4 347

-

FOR THE ERSTWHILE STATE OF J&K AND NEW UTS OF J&K AND LADAKH

3 . / ) 4 # !

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Applicable sections Punishment for benami transactions

S YR AO PI T DD I E O R VC AO RT OT SN E UE DM

Definition of benami transaction applicable When benami transaction entered into

-

L GFF A M NOOCI A C IY S A lN ENE T WL E ICA OU NRNB LG E L ETB )D ) O F N FEFI A B ) M R O

E L AN EL R N NA E A HH OWD HEI 4S OI TBT -

-

SYRS RT E N E N E T AN PB A R RA T E SEI H EOM T OCTA O YHU N N D NWN N OEO B A I I N SOT R )O T ) REN C ) A SOPI

-

-

NYF E C H OTOA SL S I E E R U C NV E N PGE AO RB Y F T A NDF ANOI E S EUEMA B R O A H L E L NNA HFTE OH FBI SO 7I TS -

E RSTD LMOSUN BIFEBE AS LRTD HUTTAXN SONOEEA Y E Y N R I S AR NOM EM A N E UG M N I HY PROROC HSENI

T I T A H I R HW O )W PAT T

-

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HTEEE = SEYHU Y

T L T L A )B A R FV ) AMO E

-

-

348 S. 3

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N O I T C A S N A R T I M A N E B @ N O S I N O I T I B I H O R 0

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N O I T C E 3

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R O A T VN NI I S R SE I T N N E O@ I R T C O A S O NN T AI R T R E IT MN E A@ NS ED BR @ SO DW RE OH WT F EO HT T X E ST UN HO 4C

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they entered into an agreement

i

CGT xxiv d

Dr. A. R. Shukla

iii

T C A P M O # E S U O ( M O D N A 2 ; N I E G A= G N E

G N I P E T Y A R PA I N C I O T I R T A C I P$ OD T E O G T D N I I R RB E A T N N E5

ii

N O I T C A S N A R T I M A N E B A O T N I G N I R E T N E N O S I N O I T I B I H O R 0

R R ODDO E E DS NNI N OlV SEION S D D R NRO E PS ER S 5 A P L UFE A N P DOL R UO N N S A T I R OC A ( E I I T NP D A @ A I I RY R C E U HR OJ E S T L VLS E A I HEAAC WOUNl D T A I I T V NSI R E OI A D SL Y R PN R E PIME R N PA lV YNAA E R O E I T VI E EB IDYD U OH N L T NA OC AL RN S0 IPA E I L OMU P N T D PO OI AS CI V R AD NE N OPN I I LO F T A I I YO I B T L C I C I Y H lE MD I S OT AO RR N& 0A B I

(ii)

(v)

(i) (iv) (vi) (iii)

Para 3.5 349

¾

3.5 WHAT ARE THE PROVISIONS REGARDING PROHIBITION OF BENAMI TRANSACTIONS?

-

Advanced Law Lexicon

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Mohammad Anwaruddin

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3.6 TO WHOM DOES THE PROHIBITION APPLY? TO THE BENAMIDAR? TO THE BENEFICIAL OWNER? OR TO BOTH?

S EODDI EE T Y ORYTL R T UETEBNA N M H I A E N V E T S BDI A ED SAPTN N NI M S RR E T T NOE OO EMO T A A E L T E E CD N MD EHEE HE T RN LE SE R THVA T EE N DEWVGETEEEG E H L AI RMASNDRRNTD O

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E S NOTR UN4BL E R E R L E F B L E A A!YE E LDE L S L R A L VOE NVNT I RRNT S R EA E H E E I A WI R R R DES Y EDA WOM E N R SO RT P S O RW EPN E T OA L HAO PN H N C P DW N T L RF I ON EROWUMAI E AO PTYWBEE R TT O O E T D H N E C N TH OU NI L T AYO ES NE L

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Y S T S NO W A ASO SOERN L E R PP L T P UFPGONL E A I D E F A S T L O ML LA TDL YSEPA A A N M E RR ENE AOEFEOE ,A LVARSTDORCSDEE 3.7 WHETHER PROHIBITION IN SECTION 3(1) APPLIES WHERE PURCHASER ENTERS INTO AN AGREEMENT TO SELL (ATS) FOR BUYING IMMOVABLE PROPERTY WITH ITS OWNER WITH PROVISION TO EXECUTE SALE DEED IN PURCHASER’S NAME OR IN THE NAME OF PERSON OR PERSONS AS THE PURCHASER INSTRUCTS?

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N O S R E P S U O I T I T C l A S I F F I T N I A L P E H T

F O W O m H S A CD FN O A

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(iii)

Ra-

Satish Kumar Khandelwal jendra Jain & Ors

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T TN D SI O E IT UNDA GONR I R E AD T A L C

I EEY S T BSR N REO TE I C NDPE O ANR H #UP T

Para 3.7 351

Issues:

A

-

Law Relating to Prohibition of Benami Property Transactions Act 1988 AUTHOR PUBLISHER DATE OF PUBLICATION EDITION ISBN NO NO. OF PAGES BINDING TYPE

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Srinivasan Anand G. TAXMANN April 2022 5th Edition 9789393880956 928 PAPERBACK

Rs. : 2195 | USD : 64

Description This book provides a comprehensive section-wise commentary on the law relating to the Prohibition of Benami Property Transactions. It is rendered in an easy to read & follow 'FAQ' format. It also includes the Legislative History and effective date of applicability based on given Case Laws. Flow charts & tables have been provided in this book for ease of reference.

This book is designed to be a handy referencer to the practitioners of the following laws: · Civil Law · Criminal Law · Company Law · Income-tax

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