Section 2 of PBPT Act : Section 2: Definitions
PBPT Act
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Explanation using Example
Imagine a situation where Mr. A purchases a house, but the property is registered in the name of Mr. B. Mr. A provides the funds for the purchase, and Mr. B holds the property without any real benefit to himself. The intention is for Mr. A to be the actual owner and enjoy the benefits, while Mr. B is just the front or 'benamidar.' This arrangement is a classic example of a benami transaction as defined by clause 8 in Section 2 of The Proh...
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