Question
With reference to the ‘Prohibition of Benami Property Transactions Act, 1988 (PBPT Act)’, consider the following statements:
Which of the statements given above is/are correct?
- A property transaction is not treated as a Benami transaction if the owner of the property is not aware of the transaction.
- Properties held by Benami are liable for confiscation by the Government.
- The Act provides for three authorities for investigations but does not provide for any appellate mechanism.
Which of the statements given above is/are correct?
Answer: Option C
Answer: (c)
The act provides is an appellate tribunal, and they’re required to finish the case within one year.
So #3 is wrong, by elimination, we are left with A and B.
So, C is most appropriate because IT dept (therefore, Government) can seize the Benami properties.
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Answer: (c)
The act provides is an appellate tribunal, and they’re required to finish the case within one year.
So #3 is wrong, by elimination, we are left with A and B.
So, C is most appropriate because IT dept (therefore, Government) can seize the Benami properties.
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