With reference to the 'Prohibition of Benami Property Transactions Act, 1988 (PBPT Act)', consider the following statements: 1. A property transaction is not treated as a Benami transaction if the owner of the property is not aware of the transaction. 2. Properties held Benami are liable for confiscation by the Government. 3. 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?

1 only
2 only
1 and 3 only
2 and 3 only

LohaHridoy

5 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 2 : 2 only

The correct answer is 2 only

A property transaction is treated as a Benami transaction even if the owner of the property is not aware of the transaction as the basic principle in the Indian legal framework is “Ignorance of the law can never be an excuse for the violation of law”. So statement 1 is incorrect.
Properties held by Benami are liable for confiscation by the Government.
And also liable for confiscation by the Government without the payment of compensation. So statement 2 is correct.
An appellate mechanism has been provided in the form of Adjudicating Authority and Appellate Tribunal. So statement 3 is incorrect.
Persons in Benami transactions may face up to 7 years’ imprisonment and fine.

5 views Answered 2022-09-04 04:29

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