Union Cabinet has approved the appointment of Adjudicating Authority and establishment of Appellate Tribunal under Prohibition of Benami Property Transactions Act (PBPT), 1988.
Salient Features:
Functions:
Adjudicating Authority (along with the three additional Benches) would provide first stage review of administrative action under the PBPT Act.
Appellate Tribunal would provide an appellate mechanism for the order passed by the Adjudicating Authority under the PBPT Act.
HQ and Benches:
The Adjudicating Authority and Appellate Tribunal shall sit in the National Capital Territory of Delhi (NCTD).
Benches of Adjudicating Authority may sit in Kolkata, Mumbai and Chennai.
Composition: Employees to Adjudicating Authority (and its 3 benches) and Appellate Tribunal will be provided by diverting employees from the Income Tax Deptt. /Central Board of Direct Taxes (CBDT).
Benefits: 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.
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