https://www.taxtmi.com/caselaws?id=428411 The 2016 Benami Transactions (Prohibition) Amendment Act could not be applied retrospectively to transactions and properties acquired before 25.10.2016. The amendment was treated as substantive because it expanded penal and confiscatory consequences, so proceedings based on pre-commencement transactions were impermissible. Show cause notices, provisional attachment orders and adjudication orders issued under the amended regime were therefore unsustainable and liable to be quashed. The controlling principle is that provisions creating or enlarging penal and confiscatory liability operate prospectively unless the legislature clearly provides otherwise. en-us Tue, 13 Sep 2022 00:00:00 +0530 Thu, 19 Dec 2024 11:55:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428411 The 2016 Benami Transactions (Prohibition) Amendment Act could not be applied retrospectively to transactions and properties acquired before 25.10.2016. The amendment was treated as substantive because it expanded penal and confiscatory consequences, so proceedings based on pre-commencement transactions were impermissible. Show cause notices, provisional attachment orders and adjudication orders issued under the amended regime were therefore unsustainable and liable to be quashed. The controlling principle is that provisions creating or enlarging penal and confiscatory liability operate prospectively unless the legislature clearly provides otherwise. Case-Laws Benami Property Tue, 13 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428411