https://www.taxtmi.com/caselaws?id=395486 The court granted a stay on a notice issued under Section 24(1) of the Benami Act of 1988, as amended in 2016, due to a prima facie case against the notice. The petitioner argued that the properties mentioned were acquired before the 2016 amendment and did not fall under the amended provisions. The court found in favor of the petitioner, considering the lack of determination by Income Tax authorities on the properties being acquired from undisclosed income. The stay was ordered to prevent potential irreparable loss to the petitioner until further orders are issued. en-us Tue, 19 May 2020 00:00:00 +0530 Mon, 25 May 2020 10:26:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395486 The court granted a stay on a notice issued under Section 24(1) of the Benami Act of 1988, as amended in 2016, due to a prima facie case against the notice. The petitioner argued that the properties mentioned were acquired before the 2016 amendment and did not fall under the amended provisions. The court found in favor of the petitioner, considering the lack of determination by Income Tax authorities on the properties being acquired from undisclosed income. The stay was ordered to prevent potential irreparable loss to the petitioner until further orders are issued. Case-Laws Benami Property Tue, 19 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395486