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<h1>Prospective application of punitive benami amendment upheld, limiting reach to post-enactment transactions and preserving pre-enactment protections.</h1> The Madras High Court affirmed that the enhanced punitive provision introduced by the Benami Transactions (Prohibition) Amendment Act, 2016 is substantive and applies prospectively; it endorsed the Tribunal's reliance on the Supreme Court's Ganapati Dealcom decision, treated a pending Supreme Court review petition as not displacing that precedent, and disposed of the appeals while allowing further proceedings consistent with prospectivity and prior constitutional findings.
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