https://www.taxtmi.com/caselaws?id=311808 The Tribunal allowed the appeal, setting aside the Adjudicating Authority's order concerning a benami transaction that occurred before the Amendment Act of 2016. It relied on the Apex Court's judgment, which declared certain provisions of the unamended and amended Benami Property Transactions Act unconstitutional, ruling that the Amendment Act 2016 applies only prospectively. The Tribunal quashed the proceedings initiated under the Amendment Act 2016 for the pre-amendment transaction but left open the possibility for the respondent to seek remedies if the Apex Court revisits its ruling. The Department may pursue actions under the Amendment Act 2016 prospectively. en-us Thu, 05 Jan 2023 00:00:00 +0530 Sun, 14 Jan 2024 09:29:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311808 The Tribunal allowed the appeal, setting aside the Adjudicating Authority's order concerning a benami transaction that occurred before the Amendment Act of 2016. It relied on the Apex Court's judgment, which declared certain provisions of the unamended and amended Benami Property Transactions Act unconstitutional, ruling that the Amendment Act 2016 applies only prospectively. The Tribunal quashed the proceedings initiated under the Amendment Act 2016 for the pre-amendment transaction but left open the possibility for the respondent to seek remedies if the Apex Court revisits its ruling. The Department may pursue actions under the Amendment Act 2016 prospectively. Case-Laws Benami Property Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311808