Demonetisation Effect –Tax Amendments & Benami Property Transaction Act – New Delhi


Date and Time:

December 23, 2016 9:00 AM - 1:00 PM

Event Location:

Hotel Eros - New Delhi, India

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It is our great pleasure to invite you to our upcoming half day Event on “ Demonetisation Effect – Tax Amendments & Benami Property Transaction Act” at Hotel Eros, New Delhi on 23rd December.

The Discussion will be focused on India’s ongoing quest against Black Money and post demonetization effect. The session will cover key features and implications of Demonetisation.

The Session includes the following Points followed by Q & A Seesion.


  • 9.30-10.00 Registration
  • 10.00- 1.00 Technical Sessions and Panel Discussion
  • 1.00-2.00 Lunch

The Taxation Laws (Second Amendment) Bill, 2016,

  • Interplay of proposed amendments in section 115BBE of the Act read with Section 68, Section 69, Section 69A and Section 69B of the Act;
  • Whether changes in a tax rates in middle of the year may be covered within the ambit of Article 20(1) of constitution of India;
  • Whether penalty can be levied under Section 271AAC of the Act on almost an automatic basis without following the test of reasonableness, non-satisfaction and other justiable “Checks & Balances”;
  • Key features of the Pradhan Mantri Garib Kalyan Yojna, 2016
  • Whether immunity from other Acts is also envisioned in Pradhan Mantri Garib Kalyan Yojna, 2016;

Amendments made to the Benami Transactions (Prohibition) Act, 1988, effective from November 1 2016 and now the Act is renamed as:
“Prohibition of Benami Property Transaction  Act, 1988”.

  • Introduction/Key Highlights of the Act;
  • Extra territorial operation of law; Whether applicable on assets situated outside India;
  • Discussion on exemptions provided in the definition of Benami Transaction under section 2(9) of the Act;

o   Fiduciary Capacity

o   Spouse or Child

o   Joint Property in the name of brother or sister or lineal ascendant or descendant

  • Key decision of the Hon’ble Courts on Benami Transactions and their relevance under amended Benami Laws;

o   Bhim Singh v. Kan Singh AIR 1980 SC 727

o   First ITO v. M. R. Dhanalakshmi Ammal [1978] 112 ITR 413 (Mad)

o   G. Mahalingappa v. G. M.Savitha [2005] 147 Taxman 583 (SC)

  • Discussion on Enforcement and Administration of Benami Law; The amended laws envision that designated Income Tax Authorities has been bested with power to Act as Initiation officer.

 Q & A Session 


  • Mr. Aseem Chawla      – ASC Legal
  • Mr. Pranshu Goel        – ASC Legal
  • Mr. Sanjiv Dagar        – Managing Counsel – Legajoist
  • Dr R N Dash              – Retd. Member – Money Laundering Appellate Tribunal
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