https://www.taxtmi.com/caselaws?id=303191 The Court found merit in the petitioner's arguments regarding the retrospective application of the Prohibition of Benami Property Transactions Act, 1988 as amended in 2016, acknowledging the violation of Article 20(1) of the Constitution of India. It also noted the lack of procedural fairness in passing the order and the impermissible extension of allegations beyond those in the show-cause notice. Consequently, the Court granted an interim stay on the order, specifically preventing the transfer of shares allotted in the financial year 2011-12, to maintain the status quo during further proceedings. en-us Thu, 29 Apr 2021 00:00:00 +0530 Thu, 07 Jul 2022 21:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303191 The Court found merit in the petitioner's arguments regarding the retrospective application of the Prohibition of Benami Property Transactions Act, 1988 as amended in 2016, acknowledging the violation of Article 20(1) of the Constitution of India. It also noted the lack of procedural fairness in passing the order and the impermissible extension of allegations beyond those in the show-cause notice. Consequently, the Court granted an interim stay on the order, specifically preventing the transfer of shares allotted in the financial year 2011-12, to maintain the status quo during further proceedings. Case-Laws Benami Property Thu, 29 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303191