https://www.taxtmi.com/caselaws?id=459790 The Tribunal concluded that the Amendment Act of 2016 under the Prohibition of Benami Property Transactions Act, 1988, cannot be applied retroactively to transactions before its enforcement. It declared Sections 3(2) and 5 unconstitutional for retroactive application, following the Supreme Court's precedent. The appeal was allowed, setting aside the Adjudicating Authority's order and proceedings initiated under the 2016 Amendment for pre-amendment transactions. The Tribunal noted that future actions by the Department could proceed if aligned with the prospective application of the Amendment Act, pending any review of the Supreme Court's decision. en-us Wed, 02 Aug 2023 00:00:00 +0530 Sat, 28 Dec 2024 00:31:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459790 The Tribunal concluded that the Amendment Act of 2016 under the Prohibition of Benami Property Transactions Act, 1988, cannot be applied retroactively to transactions before its enforcement. It declared Sections 3(2) and 5 unconstitutional for retroactive application, following the Supreme Court's precedent. The appeal was allowed, setting aside the Adjudicating Authority's order and proceedings initiated under the 2016 Amendment for pre-amendment transactions. The Tribunal noted that future actions by the Department could proceed if aligned with the prospective application of the Amendment Act, pending any review of the Supreme Court's decision. Case-Laws Benami Property Wed, 02 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459790