Law relating to Benami Property Transactions

Chapter I

Preliminary

1. Short title, extent and commencement

2. Definitions

Chapter II

Prohibition of benami transactions

3. Prohibition of benami transactions

4. Prohibition of the right to recover property held benami

5. Property held benami liable to confiscation

6. Prohibition on re-transfer of property by benamidar

Chapter III

Authorities

7. Adjudicating Authority

[8. Composition of Authority.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021]

[9. Qualifications for appointment of Chairperson and Members.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021] Section

[10. Constitution of Benches of Adjudicating Authority.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021]

[11. Power of Adjudicating Authority to regulate its own procedure.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021]

[12. Term of office of Chairperson and Members of Adjudicating Authority.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021]

[13. Terms and conditions of services of Chairperson and Members of Adjudicating Authority.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021]

[14. Removal of Chairperson and Members of Adjudicating Authority.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021]

[15. Member to act as Chairperson in certain circumstances.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021]

[16. Vacancies, etc., not to invalidate proceedings of Adjudicating Authority.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021]

[17. Officers and employees of Adjudicating Authority.—Omitted by the Finance Act, 2021, w.e.f. 1-7-2021]

18. Authorities and jurisdiction

19. Powers of authorities

20. Certain officers to assist in inquiry, etc

21. Power to call for information

22. Power of authority to impound documents

23. Power of authority to conduct inquiry, etc.

Chapter IV

Attachment, Adjudication and Confiscation

24. Notice and attachment of property involved in benami transaction

25. Manner of service of notice

26. Adjudication of benami property

27. Confiscation and vesting of benami property

28. Management of properties confiscated

29. Possession of the property

Chapter V

Appellate Tribunal

Section

30. Establishment of Appellate Tribunal

31. Composition, etc., of Appellate Tribunal

32. Qualifications for appointment of Chairperson and Members of Appellate Tribunal

33. Terms and conditions of services of Chairperson and Members of Appellate Tribunal

34. Term of office of Chairperson and Members

35. Removal of Chairperson and Member from office in certain circumstances

36. Vacancies, etc., not to invalidate proceedings of Appellate Tribunal

37. Resignation and removal

38. Member to act as Chairperson in certain circumstances

39. Staff of Appellate Tribunal

40. Procedure and powers of Appellate Tribunal

41. Distribution of business amongst Benches of Appellate Tribunal

42. Power of Chairperson of Appellate Tribunal to transfer cases

43. Decision to be by majority

44. Members, etc., to be public servants

45. Bar of jurisdiction of civil courts

46. Appeals to Appellate Tribunal

47. Rectification of mistakes

48. Right to representation

49. Appeal to High Court

Chapter VI

Special Courts

50. Special Courts

51. Application of Code of Criminal Procedure, 1973 to proceedings before Special Court

52. Appeal and revision

Chapter VII

Offences and Prosecution

Section

53. Penalty for Benami transaction

54. Penalty for false information

54A. Penalty for failure to comply with notices or furnish information

54B. Proof of entries in records or documents

55. Previous sanction

Chapter VIII

Miscellaneous

56. Repeal of provisions of certain Acts

57. Certain transfers to be null and void

58. Exemption

59. Power of Central Government to issue directions, etc.

60. Application of other laws not barred

61. Offences to be non-cognizable

62. Offences by companies

63. Notice, etc., not to be invalid on certain grounds

64. Protection of action taken in good faith

65. Transfer of pending cases

66. Proceedings, etc., against legal representative

67. Act to have overriding effect

68. Power to make rules

69. Laying of rules and notifications before Parliament

70. Power to remove difficulties

71. Transitional provision

72. Repeal and saving

Division II

APPENDICES

Appendix 1 Benami Transactions (Prohibition) Amendment Act, 2016

Appendix 2 Amendments made by the Finance (No. 2) Act, 2019

Appendix 3 Amendments made by the Finance Act, 2020, w.e.f. 1-4-2020

Appendix 4 Amendments made by the Finance Act, 2021, w.e.f. 1-7-2021

Appendix 5 Prohibition of Benami Property Transactions Rules, 2016

Appendix 6 Prohibition of Benami Property Transactions (Conditions of Services of Members of Adjudicating Authority) Rules, 2019

Appendix 7 The Second Schedule: Procedure for Recovery of Tax

Appendix 8 Notifications issued under the Act

Appendix 9 Application of Cr PC to proceedings before Special Court

Appendix 10 57th Report of Law Commission on Benami Transaction

Appendix 11 130th Report of Law Commission on Benami Transaction