SC: No Criminal Proceedings can be initiated against any Benami transaction prior to October, 2016

Last updated: 27 August 2022

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The Supreme Court of India has ruled that criminal proceedings cannot be initiated against any Benami transactions that occurred before October 25, 2016. The court found that applying the Benami Transaction (Prohibition) Amendment Act, 2016 retrospectively for confiscation or prosecution would be punitive and violate constitutional rights. Consequently, all such proceedings initiated for transactions prior to this date have been quashed.

Court :
Supreme Court of India

Brief :
The Hon'ble Supreme Court, India in the matter of Union of India v. Ganpati Dealcom (P.) Ltd [Civil Appeal No. 5783 of 2022 dated August 23, 2022] has held that the revenue department cannot initiate criminal proceedings for transactions entered into prior to theBenami Transaction (Prohibition) Amendment Act, 2016 ("the Benami Amended Act") and hence all such prosecutions or confiscation proceedings shall stand quashed.

Citation :
Civil Appeal No. 5783 of 2022 dated August 23, 2022

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Judgement posted by

Bimal Jain

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FCA, FCS LLB with21 Yrs of Experience inTaxation Indirect and Direct: Education Qualification: B.Com (Hons) Chartered Accountants Company Secretary LLB Qualified SAP FI/CO Consultants Professional Membership: Chairmanof Indirect Tax Committee of PHD Chamber of Commerce Member of Indirec ... Read more

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