Daily Current Affairs 26.10.2018: Appellate Tribunals against Benami Transactions

Appellate Tribunals against Benami Transactions

Overview: The Union Cabinet has approved setting up of Appellate Tribunal and Adjudicating Authority for speedy disposal of cases related to benami transactions. 

Behind the Scene:

Earlier the cabinet 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. The rules and all the provisions of the Benami Transactions (Prohibition) Act came into force on November 1, 2016. 

Salient Features:

• Under the Prohibition of Benami Property Transactions Act of 1998, the government will appoint Adjudicating Authority Appellate Tribunal.
• The officials will come from the existing posts at the same level from the Income Tax Department and the Central Board of Direct Taxes.
• The Adjudicating Authority and Appellate Tribunal will be based 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 will be issued after consultation with the Chairperson of the proposed Adjudicating Authority. 

Benefits of the Tribunals:

• 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.
• It 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. 

Sources: pib.