Analyzing Court's decision on Benami Transactions Act: CBDT Chairman

The Central Board of Direct Taxes (CBDT) and the Income Tax Department will analyze the recent Supreme Court judgment on the Benami Transactions (Prohibition) Amendment Act, 2016. The Supreme Court has ruled that the Benami Transactions (Prohibition) Amendment Act will not be applicable in the cases of the old date. CBDT Chairman Nitin Gupta said on Thursday that this order has just come. We are studying it.

The Supreme Court on Tuesday ruled that the criminal law cannot be enforced before 2016. In the case before this law came into force, the tax authorities could not carry out the process of prosecution.

"We will analyze this decision," Gupta said here. We cannot say on the number of cases filed or the value of attachments as of now. The Supreme Court has made a law and we will analyze it.

In benami properties, the actual beneficiary is not the person in whose name the property is purchased.