https://www.taxtmi.com/news?id=16767 The amended law prohibits benami transactions, criminalises holding property in another's name, prevents recovery of benami property by the beneficial owner, and subjects such property to confiscation by the State without compensation. It establishes an adjudicatory framework through a designated Adjudicating Authority and Appellate Tribunal, and notifies specific tax officers to act as Approving Authority, Initiating Officer and Administrator to operationalise enforcement; implementing notifications are published on the Department website. en-us Fri, 28 Oct 2016 18:04:37 +0530 Fri, 28 Oct 2016 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16767 The amended law prohibits benami transactions, criminalises holding property in another's name, prevents recovery of benami property by the beneficial owner, and subjects such property to confiscation by the State without compensation. It establishes an adjudicatory framework through a designated Adjudicating Authority and Appellate Tribunal, and notifies specific tax officers to act as Approving Authority, Initiating Officer and Administrator to operationalise enforcement; implementing notifications are published on the Department website. News - Fri, 28 Oct 2016 18:04:37 +0530 https://www.taxtmi.com/news?id=16767