Taxmann Law Relating To Prohibition of Benami Property Transactions Act 1988 By Srinivasan Anand G Edition April 2023

 1,495

This book provides a comprehensive section-wise commentary on the law relating to Benami Act. It is rendered in an easy-to-read & follows a ‘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 reference. This book will be helpful for practitioners of Civil Law, Criminal Law, Company Law, Income-tax, etc.

 

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Law Relating to Prohibition of Benami Property Transactions

Law Relating to Prohibition of Benami Property Transactions

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 & follows a ‘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

The Present Publication is the 6th Edition and has been amended by the Finance Act 2023. This book is authored by CA Srinivasan Anand G with the following noteworthy features:

  • [Extensive Analysis with Case Laws (from 2016 to March 2023)] specifically for the following topics:
  • Pleadings which are required to avail the exceptions/exclusions to Benami transactions
  • Shell companies
  • Civil asset forfeiture regime
  • Nature of confiscation
  • Controversy over the date of order passed by authorities, whether passed within limitation or after but ‘backdated’ to show it was passed within the limitation
  • Case Laws of similar/identically worded provisions from other Laws such as:
  • Income-tax
  • Civil Procedure Code
  • Valuation Rules and methods
  • [Ready Reckoner] is provided for the following cases:
  • In respect of the relatives in whose name property can be held without attracting the taint of Benami
  • Benami Transaction in Shares Reckoner
  • Alphabetical Ready Reckoner to Benami Law
  • [Benami Share Transactions] are explained in light of relevant provisions of the Companies Act 2013
  • [Analysis of Procedures] which includes the following:
  • Procedure before Initiating Officer (IO) u/s 24 (responses to show cause notice & provisional attachment order)
  • Procedure before Adjudicating Authority (AA) u/s 26 (rights of noticee to require material in possession of IO, based on which the IO attached the show caused property and made reference to the AA
  • [Analysis of Appellate, Revision and Rectification Remedies] is provided in this book
  • [Valuation Rules for Determining the Fair Market Value] of Benami property to levy fines under sections 53 and 54 as a percentage of fair market value
  • [Interaction with Other Laws] This book covers the relevant provisions of other laws, such as:
  • Companies Act, 2013
  • Fugitive Economic Offenders Act, 2018
  • Income Tax Act, 1961
  • Indian Penal Code, 1860
  • Civil Procedure Code, 1908
  • Criminal Procedure Code, 1973
  • Prevention of Money-laundering Act, 2022
  • Transfer of Property Act, 1882
  • Indian Trust Act, 1882

The detailed contents of the book are as follows:

  • Preliminary
  • Prohibition of Benami Transactions
  • Authorities
  • Attachment, Adjudication and Confiscation
  • Appellate Tribunal
  • Special Courts
  • Offences and Prosecution
  • Miscellaneous

About the author

Srinivasan Anand G

CA Srinivasan Anand G has qualified in the exams of all three premier professional institutes, i.e., ICAI, ICWAI & ICSI. He is the author of best-selling books on Tax laws and Auditing. The following books, authored by him, have been among the bestsellers:

  • Tax Laws
    • Tax Audit
    • Taxation of Start-ups and Investors
    • Law relating to Prohibition of Benami Property Transactions Act, 1988
    • TDS Ready Reckoner
    • Taxation of Loans, Gifts and Cash Credits
  • Audits & Auditing
    • Tax Audit
    • CARO 2020
    • Law relating to Income Computation and Disclosure Standards

He has been a guest faculty member with various institutes such as Regional Training Institute, Comptroller & Auditor General of India, Western Coalfields Ltd.

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