PANEL DISCUSSION ON INTERPLAY BETWEEN INCOME TAX ACT, BENAMI TRANSACTIONS (PROPERTIES) ACT AND MONEY LAUNDERING ACT AND OTHER ALLIED LAWS (JOINTLY WITH IMC & BCAS)

The Chamber of Tax Consultants jointly with IMC Chamber of Commerce and Industry & Bombay Chartered Accountants’ Society is organizing a Panel Discussion on Interplay between Income Tax Act, Benami Transactions (Properties) Act and Money Laundering Act and other allied laws on Thursday, January 13, 2022 from 4.30 pm to 6.30 pm.

The success of a developing economy like India critically depends on the capacity of our society to root out the evil of corruption and black money from its very foundations. The Present Indian Government has rigorously being enforcing measures to curb the generation of black money and to bring back the suppressed money along with its benefit which is circulating in the economy under the tax regime. With this motive, the Government introduced the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, substantially amended the Prohibition of Benami Property Transactions Act, 1988 and has vigorously applied such acts along with the Prevention of Money-laundering Act, 2002.

Income tax Act and other laws relating to economic offences have large scale overlap amongst themselves and possess interplay. Also, the enforcement of the Black Money Act and the judiciary process under the same has been operating through the Income-tax Authorities and there have been some litigation which has traversed to Income-tax Appellate Tribunal as-well.

In order to understand this multifaceted and intertwined application amongst the above mentioned laws, we have organised a Webinar which will give more clarity on the issues arising on account of interpretation and application of the multiple laws.

The session will be in panel discussion format and the Speakers of the programme are as under:

• Shri Rabi Narayan Dash (Ex-CCIT & Ex-Chairman Tribunal of PMLA & Benami Law);

• Shri Ashwani Taneja (Advocate & Ex-Tribunal Member); and

• Shri Amit Khemka (Advocate, Supreme Court of India)

The details of the Panel Discussion are as follows-

The speakers will also reply/ clarify the questions received from the participants post the panel discussion. The questions to be posted to the Speakers can be sent in advance to [email protected]

A limited number of participants will be admitted on first-come first-served basis.