Confiscated property disposal follows the Income-tax Act procedure when the Central Government directs disposal under the benami property rules. Disposal of property confiscated under the benami property framework is undertaken by the administrator when directed by the Central Government. The property, once vested in the Government, must be disposed of in the manner provided in the Second Schedule to the Income-tax Act, 1961. The rule thus incorporates the income-tax recovery procedure as the governing method for disposal of confiscated benami property.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Confiscated property disposal follows the Income-tax Act procedure when the Central Government directs disposal under the benami property rules.
Disposal of property confiscated under the benami property framework is undertaken by the administrator when directed by the Central Government. The property, once vested in the Government, must be disposed of in the manner provided in the Second Schedule to the Income-tax Act, 1961. The rule thus incorporates the income-tax recovery procedure as the governing method for disposal of confiscated benami property.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
