The Cabinet on Wednesday approved setting up of Appellate Tribunal and Adjudicating Authority under Prohibition of Benami Property Transactions Act(PBPT) 1988, for speedy disposal of cases related to benami transactions. Earlier this month, the government had notified sessions courts in 34 states and union territories, which will act as special courts for trial of offences under the benami transaction law.
Benami transactions refer to transactions made in a fictitious name, or the owner is not aware of the ownership of the property, or the person paying for the property is not traceable.
- Appointment of an Adjudicating Authority, along with the three additional Benches and to establish the Appellate Tribunal under the PBPT Act
- To provide the officers and employees to Adjudicating Authority, Benches of the Adjudicating Authority and Appellate Tribunal by diverting the existing posts at the same level/rank from the Income Tax Deptt./Central Board of Direct Taxes (CBDT)
- The Adjudicating Authority and Appellate Tribunal shall sit in the National Capital Territory of Delhi (NCTD).
- Benches of Adjudicating Authority may sit in Kolkata, Mumbai and Chennai, and the necessary notification in this regard shall be issued after making consultation with the Chairperson of the proposed Adjudicating Authority.
– The approval will result in effective and better administration of cases referred to the Adjudicating Authority and speedy disposal of appeals filed against the order of the Adjudicating Authority before the Appellate Tribunal.
– Appointment of the Adjudicating Authority would provide first stage review of administrative action under the PBPT Act.
– Establishment of the proposed Appellate Tribunal would provide an appellate mechanism for the order passed by the Adjudicating Authority under the PBPT Act.