https://www.taxtmi.com/caselaws?id=761637 Substantive amendments to the benami law operate prospectively, so a transaction entered into before the 2016 amendment could not be examined under the amended definition of benami transaction. Because the authorities proceeded on the basis of the later definition in relation to a pre-amendment transaction, the attachment and consequential adjudication were unsustainable. The record also noted that the beneficial owner had not been identified, but the decisive point was the impermissible retrospective application of the amended regime. The impugned attachment and adjudication were therefore set aside. en-us Thu, 10 Oct 2024 00:00:00 +0530 Wed, 13 Nov 2024 17:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761637 Substantive amendments to the benami law operate prospectively, so a transaction entered into before the 2016 amendment could not be examined under the amended definition of benami transaction. Because the authorities proceeded on the basis of the later definition in relation to a pre-amendment transaction, the attachment and consequential adjudication were unsustainable. The record also noted that the beneficial owner had not been identified, but the decisive point was the impermissible retrospective application of the amended regime. The impugned attachment and adjudication were therefore set aside. Case-Laws Benami Property Thu, 10 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761637