Benami - Transaction .........

........... Benami Transaction ..................

                                      

- Means any transaction in which any property ( movable ,immovable , tangible , intangible , any right  / interest  in such property ) transferred to One person for a consideration Paid or Provided by Another Person .

- The property purchased by any person in the name of his wife or unmarried daughter for their benefit does not bar by benami act unless contrary is proved .

- The property is purchased in the name of Coparcener in the  Hindu Undivided Family  for the benefit of the Coparcenary does not bar by benami .

- The property purchased in the name of Trustee  or Person of Fiduciary Capacity is not by benami .

- Basically following particular be taken into consideration  for Benami Transaction 

a) the source from which the purchase money came .

b) the nature & possession of the property after the purchase.

c) motive if any for giving the transaction a benami colour .

d) the position of the parties & relationship if any between claimant and the alleged benamidar .

e) the custody of the title deeds after the sale .

f) the conduct of the parties concerned in dealing with the property after the sale .

-  No suit , claim  , action  to enforce any right in respect of any property held Benami.

- All properties held Benami liable to acquisition as per procedure prescribed by Government .

- The Benami Transaction Act is prospective and not retrospective in operations .

- Whoever enters into any benami transaction shall be punishable with imprisonment for a term which may extend to 3 years or with fine or both.

.......... Relevant Provision .............................

--- The Benami Transaction Act 1988 (it come into force since 5 September 1988)

---------  Relevant Judgement -------------------------

- Probodh Chandra Ghosh v/s Urmila Dassi & Anr A.I.R.2000 S.C.2534.

- Rajappa Hanamantha Ranoji v/s Mahadev Channabasappa A.I.R.2000 S.C.2108.

- Binapai Paul v/s Pratima Ghosh & Ors A.I.R. 2008 S.C.543.

- Shankaranarayana Rao v/s Leelavathy  2007 SAR 540.

- Samittri Devi v/s Sampuran Singh A.I.R.2011 S.C.773.

- Smt.P.Leelavathi (D) by Lrs v/s V.Shankarnarayan Rao 2019 SAR 672.

= = = = = = please read/peruse my previous BLOGS comment ,give suggestion for better development of next Blog = = = = = = = =