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The Islamabad High Court (IHC) has restrained the Federal Board of Revenue (FBR's) Anti-Benami Directorate General from proceeding against the properties acquired before the promulgation of the Benami Transactions (Prohibition) Act, 2017.

The IHC has issued an interim order in a writ petition 4480 of 2019 (SAS (Pvt) Ltd vs Federation of Pakistan).

In light of the interim order of the IHC, the Benami Transactions (Prohibition) Act, 2017 would not be applicable retrospectively, but only prospectively till the next date of hearing.

According to the IHC order, the respondent department, that is the Anti-Benami Directorate General, could not satisfy the court that the Benami Transactions (Prohibition) Act, 2017 extends to such properties which were acquired and title documents thereof confirm the transaction to have been completed before the enforcement of the Act of 2017.

Till the next date fixed, the department is restrained from proceeding to the extent of such properties the title documents wherefore are dated prior to the enforcement of the Benami Transactions (Prohibition) Act, 2017.

To the extent of other properties, which were acquired and their respective title documents are dated after promulgation of the Act 2017, the competent authority shall proceed strictly in accordance with the law, the IHC order added. On Thursday, the IHC fixed March 10, 2020 as the next date for hearing of the case.

Copyright Business Recorder, 2020

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