Penalty for Benami transaction

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....SECUTION 53. Penalty for Benami transaction (1) Where any person enters into a benami transaction in order to defeat the provisions of any law or to avoid payment of statutory dues or to avoid p....

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....ich may extend to seven years and shall also be liable to fine which may extend to twenty-five per cent. of the fair market value of the property.]     ************* NOTES:- 1....