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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Finance Bill 2021 amends Benami Property Act: Section 7 revised, sections 8-17 omitted, new adjudicating authority designated.</h1> The Finance Bill, 2021 proposes amendments to the Prohibition of Benami Property Transactions Act, 1988. Section 7 is to be replaced, designating the competent authority from the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 as the Adjudicating Authority. The definition of Adjudicating Authority in section 2 is revised, and sections 8 to 17 are omitted. Additionally, the deadline for orders under section 26 is extended to September 30, 2021. Clauses (b) and (c) of section 68(2) are also omitted. These changes are effective from July 1, 2021.
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