Following the 2016 amendment to the Benami Law, the Income Tax Department has intensified its efforts to curb benami transactions. Enhanced inter-departmental information sharing and the formation of dedicated teams have led to a significant rise in enforcement actions.
It is crucial for stakeholders to understand what constitutes a benami transaction, the scope and implications of the amended law, and stay updated on recent developments.
The webinar cover:
- Pre-amended law, amendment, and the debate surrounding constitutionality of the law;
- Scope and ambit of definition of ‘benami transaction’ under the amended law;
- Attachment & confiscation of properties and prosecution of offenders;
- Powers of the different authorities and the limitations thereto;
- Property acquired before 2016 – covered in the net of amended law?;
- Power of review and restoration in the light of review of decision of Ganpati Dealcom;
- Case studies.
Speakers
S. Vasudevan, Executive Partner, LKS
Mahendra Singh, Associate Partner, LKS