{"id":82791,"date":"2016-10-29T15:18:25","date_gmt":"2016-10-29T09:48:25","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=82791"},"modified":"2016-11-26T23:07:59","modified_gmt":"2016-11-26T17:37:59","slug":"the-benami-transactions-prohibition-amendment-act-2016-to-come-into-force-on-nov-1-2016","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2016\/10\/29\/the-benami-transactions-prohibition-amendment-act-2016-to-come-into-force-on-nov-1-2016\/","title":{"rendered":"The Benami Transactions (Prohibition) Amendment Act, 2016 to come into force on Nov. 1, 2016"},"content":{"rendered":"<p style=\"text-align: justify;\">The Benami Property Transactions Act, 1988 has been amended by the Benami Transactions (Prohibition) Amendment Act, 2016 (BTP Amendment Act). The rules and all the provisions of the BTP Amendment Act shall come into force on 1st\u00a0November, 2016. After coming into effect of the BTP Amendment Act, the existing Benami Transactions (Prohibition) Act, 1988 shall be renamed as Prohibition of Benami Property Transactions Act, 1988 (PBPT Act).<\/p>\n<p style=\"text-align: justify;\">2. The PBPT Act defines benami transactions, prohibits them and further provides that violation of the PBPT Act is punishable with imprisonment and fine. The PBPT Act prohibits recovery of the property held benami from benamidar by the real owner. Properties held benami are liable for confiscation by the Government without payment of compensation.<\/p>\n<p style=\"text-align: justify;\">3. An appellate mechanism has been provided under the PBPT Act in the form of Adjudicating Authority and Appellate Tribunal. The Adjudicating Authority referred to in section 6(1) of the Prevention of Money Laundering Act, 2002 (PMLA) and the Appellate Tribunal referred to in section 25 of the PMLA have been notified as the Adjudicating Authority and Appellate Tribunal, respectively, for the purposes of the PBPT Act.<\/p>\n<p style=\"text-align: justify;\">4. A Joint\/Additional Commissioner of Income Tax, an Assistant \/ Deputy Commissioner of Income-tax and a Tax Recovery Officer in each Pr. CCIT Region have been notified to perform the functions and exercise the powers of the Approving Authority, Initiating Officer and Administrator, respectively under the PBPT Act.<\/p>\n<p style=\"text-align: justify;\">5. All the notifications have been uploaded on the website of the Department at\u00a0www.incometaxindia.gov.in.<\/p>\n<p style=\"text-align: right;\">Ministry of Finance<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Benami Property Transactions Act, 1988 has been amended by the Benami Transactions (Prohibition) Amendment Act, 2016 (BTP Amendment Act). The rules <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[],"class_list":["post-82791","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-notifications"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Benami Transactions (Prohibition) Amendment Act, 2016 to come into force on Nov. 1, 2016 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2016\/10\/29\/the-benami-transactions-prohibition-amendment-act-2016-to-come-into-force-on-nov-1-2016\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Benami Transactions (Prohibition) Amendment Act, 2016 to come into force on Nov. 1, 2016\" \/>\n<meta property=\"og:description\" content=\"The Benami Property Transactions Act, 1988 has been amended by the Benami Transactions (Prohibition) Amendment Act, 2016 (BTP Amendment Act). 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Transactions: Meaning and Facets","author":"Editor","date":"January 13, 2022","format":false,"excerpt":"by Ayush Pandey* and Shivendra Nath Mishra**","rel":"","context":"In &quot;Op Eds&quot;","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-133.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-133.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-133.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-133.jpg?resize=700%2C400&ssl=1 2x, 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Verma is an authoritative text on Prohibition of Benami Property Transactions Act, 1988 as amended by Benami Transactions (Prohibition) Amendment Act, 2016. This Amendment Act has added many substantive and procedural provisions and even changed the title. The Act has been enlarged, the\u2026","rel":"","context":"In &quot;New releases&quot;","block_context":{"text":"New releases","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/book-releases\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/verma_banami_property_1_2018.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/verma_banami_property_1_2018.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/verma_banami_property_1_2018.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/verma_banami_property_1_2018.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/03\/verma_banami_property_1_2018.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":7204,"url":"https:\/\/www.scconline.com\/blog\/post\/2015\/05\/27\/benami-transactions-prohibition-amendment-bill-2015\/","url_meta":{"origin":82791,"position":2},"title":"Benami Transactions (Prohibition) Amendment Bill, 2015","author":"Sucheta","date":"May 27, 2015","format":false,"excerpt":"On 13.05.2015, the Benami Transactions (Prohibition) Amendment Bill, 2015 was introduced in Lok Sabha. The Bill seeks to amend the Benami Transactions (Prohibition) Act, 1988 (referred hereto as the principal Act) by introducing following amendments in the said Act: Inserts a new Chapter I before Section 1 of the principal\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/08\/parliamentSM.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":272133,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/08\/24\/section-3-and-5-of-benami-property-transactions-act-1988-unconstituional-stillborn-2016-amendment-act-does-not-apply-retroactively-prospective-application-supreme-court-legal-news-updates-research\/","url_meta":{"origin":82791,"position":3},"title":"Sections 3 and 5 of the 1988 Benami Property law &#8220;still-born&#8221; and &#8220;unconstitutional&#8221;; 2016 Amendment can only apply prospectively: Supreme Court","author":"Prachi Bhardwaj","date":"August 24, 2022","format":false,"excerpt":"\u201cThe continued presence of an unconstitutional law on the statute book, or the claim that such law was not challenged before Constitutional Courts, does not prevent this Court from holding that such unconstitutional laws cannot enure to the benefit of or be utilized to retroactively amend laws to cure\u00a0\u00a0 existing\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/Sections-3-and-5-of-the-1988-Benami-Property-law-still-born-and-unconstitutional-2016-Amendment-can-only-apply-prospectively-Supreme-Court-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/Sections-3-and-5-of-the-1988-Benami-Property-law-still-born-and-unconstitutional-2016-Amendment-can-only-apply-prospectively-Supreme-Court-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/Sections-3-and-5-of-the-1988-Benami-Property-law-still-born-and-unconstitutional-2016-Amendment-can-only-apply-prospectively-Supreme-Court-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/Sections-3-and-5-of-the-1988-Benami-Property-law-still-born-and-unconstitutional-2016-Amendment-can-only-apply-prospectively-Supreme-Court-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/08\/Sections-3-and-5-of-the-1988-Benami-Property-law-still-born-and-unconstitutional-2016-Amendment-can-only-apply-prospectively-Supreme-Court-1.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":275637,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/10\/15\/delhi-high-court-quashes-confiscation-proceedings-against-satyender-jain-under-prohibition-of-benami-property-transactions-act-1988\/","url_meta":{"origin":82791,"position":4},"title":"Delhi High Court quashes confiscation proceedings against Satyender Jain under Prohibition of Benami Property Transactions Act, 1988","author":"Editor","date":"October 15, 2022","format":false,"excerpt":"\u00a0 \u00a0 Delhi High Court: In a batch of petitions filed assailing proceedings initiated by the respondent- State under the Prohibition of Benami Property Transactions Act, 1988 for attachment and confiscation of properties which were admittedly acquired prior to the enforcement of the Benami Transactions (Prohibition) Amendment Act, 2016, Yashwant\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Delhi High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/delhi_high_court.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/delhi_high_court.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/delhi_high_court.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/delhi_high_court.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/06\/delhi_high_court.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":57481,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/07\/21\/cabinet-approves-amendment-in-the-benami-transactions-prohibition-amendment-bill-2015\/","url_meta":{"origin":82791,"position":5},"title":"Cabinet approves amendment in the Benami Transactions (Prohibition) amendment Bill, 2015","author":"Sucheta","date":"July 21, 2016","format":false,"excerpt":"The Union Cabinet has given its approval for introducing amendments to the Benami Transactions (Prohibition) (Amendment) Bill, 2015 in Parliament. 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