Anonymous Property Transaction Prohibition Act, 1988

Why in the discussion?
A major defense company of Israel has signed a defense deal worth 777 million US dollars with Bharat Electronics Limited. It is notable that after Israel, Israel is the second largest supplier of India’s weapons

key points
  • According to this agreement, Israel Aerospace Industries (IAI) will supply a marine version of Surface-to-air long range missile (LRSAM) and air missile defense system operated Barak-8 for 7 ships of the Indian Navy. 
  • Bharat Electronics Limited (BEL) will play the lead producer under this project.
Israel Aerospace Industries (IAI)
  • IAI is Israel’s largest aerospace and defense company.
  • It develops, manufactures and supplies missile piercing, air systems and intelligence and cyber security systems and defense systems.
Defense relations between India and Israel
  • India has close relations with Israel’s defense establishment and India has signed several important deals with Israeli defense companies. 
  • India is a major market for IAI and in spite of growing competition, it is planning to further strengthen its position in India.
  • According to the statistics of the Ministry of Defense of Israel, Israel is one of the world’s top arms dealers and about 60 percent of its total defense exports are done in the Asia-Pacific region.
  • Bilateral cooperation between the two countries is increasing simultaneously. Political understanding, security cooperation and technology partnership are the main pillars of strategic relations between India and Israel. Apart from this, both countries are looking for possibilities in new areas like space, cyber security and innovation (start-ups). 
  • Why in the discussion?
    Recently, the Supreme Court refused to impose a full ban on firecrackers used during Diwali. The Supreme Court has tried to maintain harmony between the rights of the industries related to fireworks and the public health. 
    Key point of decision
    • The Supreme Court has set some deadlines for burning firecrackers, which are as follows: 
      दिन 8 pm to 10 pm on Diwali day. 
      ♦ 11:55 PM to 12:30 AM on Christmas Eve and New Year’s Eve.
    • The presence of restricted chemicals such as lithium, arsenic, lead and mercury will be tested in the firecrackers by the Petroleum and Explosive Safety Organization (PESO).
    • PESO will ensure that there are only such firecrackers available in the market, due to which the noise produced by the noise will not exceed the desired decibels.
    Why is the burning of firecrackers pollution?
    • On the burnings of firecrackers, glitter is generated due to chemical salts like magnesium and aluminum present in them, while in the form of fuel, gun powder is used, which is made from charcoal and sulfur.
    • When the firecrackers are burnt, all those colors that produce the color are converted directly into PM 2.5 and PM10.
    • In addition, the sulfur present in the gun powder turns into sulfur-dioxide, which is a toxic gas.
    • It is surprising that in spite of the over use of firecrackers in the year 2017, the level of pollution was lower compared to the previous year on Diwali. 
    • The reason for this is that the level of cold pollution is due to many other factors (such as fire in paddy crop in the Gangetic Plains, use of diesel for burning and cold weather which inhibits the spread of pollutants) is influenced. It is important that these factors change from year to year.
    • The use of barium salt in the firecrackers has also been banned.
    • The emphasis is on the use of low-emission firecrackers, which will reduce PM by 30-35% and significantly reduce the emission of nitrous oxide and sulfur dioxide.
    • The online e-commerce website has also banned the sale of fireworks.
    • On October 9, 2017, the Supreme Court temporarily restricted sales of firecrackers in Delhi NCR area before Diwali.
    • The court had cited that Article 21 (the right to life) of the Constitution applies to both the general public and the cracker manufacturers. Therefore, considering the nationwide ban of crackers, there is a need to maintain balance.
    Green crackers
    • Green crackers are crackers that do not emit harmful chemicals and gases after the burn. In such crackers, harmful ingredients are not used which promote air pollution.
    • Scientists of the Central Institute of Chemical Research (CECRI), Indian Institute of Chemical Technology, National Botanical Research Institute and National Chemical Laboratory have published some ‘Green crackers’ crackers, such as Safe Water Reliever (SWAS), Safe Thermite Cracker (STAR) and Safe Minimal Aluminum (SAFAL) has developed.
    Proven or ineffective effect of this restriction is the subject of further consideration. But despite the complete ban imposed last year, even higher levels of pollution show that other sources of pollution such as emissions from vehicles, contaminated gases emanating from industries and other factors have been ignored by the government. Therefore, banning the sale of firecrackers does not seem relevant to desire the desired reduction in the level of pollution. It is necessary that the Government take similar measures for controlling pollution through other sources throughout the year.
Under the chairmanship of Prime Minister Narendra Modi, the Union Cabinet has approved the constitution of the Adjudicating Authority and the establishment of Appellate Tribunal under the Benami Property Transactions Act (PBPT), 1988. .
main point
I.  Under the PBPT Act, the constitution of the crucial authority along with three additional benches and the appellate tribunal will be established.
II.  Officials and staff will be provided to the Benches and Appellate Tribunals of the Judicial Authority. This work will be done by utilizing the same level / rank existing positions in the Income Tax Department / Central Board of Direct Taxes (CBDT) elsewhere.
III.  The judicial authority and the Appellate Tribunal will be located in the National Capital Territory of Delhi (NCTD).
IV.  Bench of the Critical Authority may be located in Kolkata, Mumbai and Chennai. The necessary notification will be issued only after consultation with the Chairman of the proposed Judicial Authority.
  • A -used sanction will be decisive authority possible to streamline and better disposal of cases assigned to find and quick disposal of the appeal to the Appellate Tribunal against the order of the final authority with it will be possible.
  • The constitution of the judicial authority will help in reviewing the first phase of administrative action to be done under the PBPT Act.
  • The establishment of the proposed Appellate Tribunal will make possible arrangements for appealing against the order issued by the decisive authority under the PBPT Act.
Anonymous Transaction (Prohibition) Act, 1988
The purpose of the Anonymous Transaction (Prohibition) Amendment Bill, 2015 is to amend the Anonymous Transaction (Prohibition) Act, 1988. This new amended law got the right to forfeit and prosecute anonymous property. In this way, the main revenue will be blocked, especially in the real estate of Anonymous property as black money.
  • The scope for this has been expanded in the bill, in which the properties purchased under suspicious names have also been included and such situations have also been added in which the owner is unaware of his proprietary rights. Those who carry out such deals will also be arrested.
  • If the property is in the name of a close family member, child or child, then the benami will not be in the category of property. But if there is a name on the name of a third party, then such property can be forfeited in that situation.
  • The amended bill gives the government the right to confiscate the benami properties.
  • In it the government has been given statutory and administrative powers, through which it will be able to overcome the practical difficulties in the way of implementation of the benami law.
  • Under the Income Announcement Plan, a person can declare his benami property and he will be relieved of the provisions of the Anonymous Act.
  • The objective of this Bill is to create a comprehensive inclusive framework, in which a special hearing authority will be constituted for better regulation of benami properties.
  • Under the provisions of the Act a proper authority will be constituted. This bill proposes to constitute a four-level regulatory framework, in which an initiative officer, an acceptance authority, an administrator and hearing authority.
  • In the event of violation of the rules in the bill, strict punishment has been made. In this case, buying an Anonymous property can be punishable with seven years. Also, due to misinformation given to the agencies, they may have to be banned for five years.
  • The amendment also provides for the formation of an Appellate Tribunal, which acts as an independent body for hearing of appeals and can be heard before going to the High Court before the matter.

Leave a Reply

Your email address will not be published. Required fields are marked *