2019 (12) TMI 1482 - HC - Benami Property

Benami transaction - Proceedings u/s 24 of the Prohibition of Benami Property Transactions Act, 1988 - retrospective applicability of the Benami Amendment Act, 2016 - provisional attachment of the benami properties - scope of amendment to act - HELD THAT - Heard. Admit. With the consent of the learned counsel for the parties, list these matters at the top of hearing list on 28.01.2020

Summary

Issues:
- Benami transactions
- Jurisdiction of Deputy Commissioner of Income Tax
- Writ petition challenging initiation of proceedings

Benami transactions:
The judgment delves into the concept of benami transactions, where properties are held by one person but the consideration is provided by another. The court emphasizes that benami transactions are prohibited under the Benami Transactions (Prohibition) Act. It highlights the need to examine the intention behind such transactions and the importance of unraveling the true ownership of properties involved.

Jurisdiction of Deputy Commissioner of Income Tax:
The court discusses the jurisdiction of the Deputy Commissioner of Income Tax in dealing with benami transactions. It clarifies that the Deputy Commissioner has the authority to initiate proceedings under the Benami Transactions (Prohibition) Act and take necessary actions to unearth such transactions. The judgment underscores the significance of empowering the Deputy Commissioner to investigate and adjudicate on matters related to benami properties.

Writ petition challenging initiation of proceedings:
The judgment addresses writ petitions filed challenging the initiation of proceedings by the Deputy Commissioner of Income Tax. It examines the grounds on which such petitions were filed, including issues related to jurisdiction, procedural irregularities, and violations of natural justice. The court carefully considers the arguments presented by both parties and ultimately decides on the admissibility of the petitions for further hearing.