Supreme Court strikes down Amendment prescribing Punishment for entering into Benami Transactions [Read Judgment]

Supreme Court - Punishment - Benami transactions - taxscan

The Supreme Court struck down section 3(2) of the Benami Transactions (Prohibition) Act 1988 which prescribes punishment for entering into Benami transactions on the ground of being manifestly arbitrary. The bench declared that Section 3(2) of the 2016 Act is also unconstitutional as it is violative of Article 20(1) of the Constitution and held that…

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