There is no provision in the Prohibition of Benami Property Transactions Act, 1988 as amended by Benami Transactions (Prohibition) Amendment Act, 2016 (hereinafter “Benami Act”) empowering the Initiating Officer for deciding the Objections by a speaking Order in the event of issuance of a notice to a Benamidar pursuant to the notice under Section 24 of said Act. The significant question as to whether the methodology devised by the Hon’ble Supreme Court of India under the Income Tax Act, 1961 inThere is no provision in the Prohibition of Benami Property Transactions Act, 1988 as amended by Benami Transactions (Prohibition) Amendment Act, 2016 (hereinafter “Benami Act”) empowering the Initiating Officer for deciding the Objections by a speaking Order in the event of issuance of a notice to a Benamidar pursuant to the notice under Section 24 of said Act. The significant question as to whether the methodology devised by the Hon’ble Supreme Court of India under the Income Tax Act, 1961 intaxmann.com Latest ArticlesRead More
