Benami transactions entered after the Amendment Act's commencement are punishable under Chapter VII regardless of prior subsection. The amendment makes clear that any person entering into a benami transaction on or after commencement shall be punishable under the Act's Chapter VII; this penal liability applies notwithstanding the re numbered subsection and follows omission and renumbering of certain earlier subsections to give the Chapter VII penalty regime prospective effect.
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.
Benami transactions entered after the Amendment Act's commencement are punishable under Chapter VII regardless of prior subsection.
The amendment makes clear that any person entering into a benami transaction on or after commencement shall be punishable under the Act's Chapter VII; this penal liability applies notwithstanding the re numbered subsection and follows omission and renumbering of certain earlier subsections to give the Chapter VII penalty regime prospective effect.
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