{"act":{"id":"finance-act-2023","short_title":"The Finance Act, 2023","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2023-2024.","act_number":"8","act_year":2023,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":181,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2023/"},"unit":"section","section":{"number":"171","heading":"Amendment of Act 45 of 1988","text":"PART V AMENDMENTS TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988 Amendment of Act 45 of 1988. 171. In the Prohibition of Benami Property Transactions Act, 1988, with effect from the 1st day of April, 2023,— (a) | in section 2, in clause (18),— (I) | in sub-clause (i), the word \"and\" occurring at the end shall be omitted; (II) | in sub-clause (ii), the word \"and\" shall be inserted at the end; (III) | after clause (ii), the following clause shall be inserted, namely:— \"(iii) | the High Court within the jurisdiction of which the office of the Initiating Officer is located,— (a) | where the aggrieved party does not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court; (b) | where the Government is the aggrieved party and any of the respondents do not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court;\"; (b) | in section 46,— (i) | in sub-section (1), for the words \"of the order\", the words \"on which such order is received by the Initiating Officer or received by such person,\" shall be substituted; (ii) | in sub-section (1A), for the words \"of that order\", the words \"on which such order is received by such person\" shall be substituted.","html":"

PART V

AMENDMENTS TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988

Amendment of Act 45 of 1988.

171. In the Prohibition of Benami Property Transactions Act, 1988, with effect from the 1st day of April, 2023,—

(a)in section 2, in clause (18),—
(I)in sub-clause (i), the word \"and\" occurring at the end shall be omitted;
(II)in sub-clause (ii), the word \"and\" shall be inserted at the end;
(III)after clause (ii), the following clause shall be inserted, namely:—
\"(iii)the High Court within the jurisdiction of which the office of the Initiating Officer is located,—
(a)where the aggrieved party does not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court;
(b)where the Government is the aggrieved party and any of the respondents do not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court;\";
(b)in section 46,—
(i)in sub-section (1), for the words \"of the order\", the words \"on which such order is received by the Initiating Officer or received by such person,\" shall be substituted;
(ii)in sub-section (1A), for the words \"of that order\", the words \"on which such order is received by such person\" shall be substituted.
","words":225,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/171/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}