The Benami transaction (Prohibition) Amendment Act of 2016, has been declared to be exercised prospectively, ridding from confiscation of benami properties acquired between 1988 (original year of act) and 2016 (amendment), as well as eradicating the three year jail time as offence. Ramana-led bench has called out the act of 2016 as unconstitutional and punitive, running for 28 years without a proper procedure. It is to keep in mind though, that the Court will still give out warning for confiscating such benami properties.
