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2022 (11) TMI 173 - HC - Benami PropertyProhibition of Benami Property Transactions - provisional attachment order - As challenged the transaction for which the provisional attachment order was passed and subsequently affirmed by the adjudicating authority took place on 20.12.2014 much prior to coming into force of the Benami Transactions (Prohibition) (Amendment) Act, 2016 - HELD THAT - This issue has already been decided by this Court in the case of Nexus Feeds Limited Vs. Assistant Commissioner of Income Tax 2022 (5) TMI 262 - TELANGANA HIGH COURT The views expressed by this Court has since been affirmed by the Supreme Court in the case of Union of India Vs. Ganpati Dealcom Pvt. Ltd. 2022 (8) TMI 1047 - SUPREME COURT Thus impugned order of the adjudicating authority are hereby set aside and quashed.
Issues:
Challenge to orders dated 26.04.2022 & 27.04.2022 under Section 26(3) of the Prohibition of Benami Property Transactions Act, 1988. Analysis: The High Court, comprising Hon'ble The Chief Justice Ujjal Bhuyan and Hon'ble Sri Justice C.V.Bhaskar Reddy, heard the arguments presented by the learned counsels for the petitioners, the Income Tax Department, and the Union of India. The challenge in the writ petitions was against the orders issued by the adjudicating authority under Section 26(3) of the Benami Property Transactions Act, 1988, dated 26.04.2022 & 27.04.2022. The main contention was that the transaction in question occurred on 20.12.2014, before the enactment of the Benami Transactions (Prohibition) (Amendment) Act, 2016. The Court referred to a previous judgment in the case of Nexus Feeds Limited Vs. Assistant Commissioner of Income Tax, where it was determined that transactions predating the Amendment Act of 2016 were not covered under the Benami Property Transactions Act. This interpretation was subsequently upheld by the Supreme Court in the case of Union of India Vs. Ganpati Dealcom Pvt. Ltd. Consequently, the High Court set aside and quashed the impugned orders dated 26.04.2022 and 27.04.2022 issued by the adjudicating authority. As a result of the above analysis, the writ petitions were allowed, and any pending miscellaneous applications were closed. The Court also specified that there would be no order as to costs in this matter.
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