Benami refers to transactions where property is held by one person but paid for by another. This practice is often associated with tax evasion and money laundering. In India, the Benami Transactions (Prohibition) Act was enacted to combat this issue. It aims to identify and confiscate properties acquired through such means. The law reflects efforts to promote transparency in financial dealings.
In an important development, the Supreme Court of India has overturned its previous ruling from August 2022 regarding the Benami Transactions (Prohibition) Act, 1988. This decision comes after...
