ISLAMABAD – Federal Board of Revenue (FBR) has enforced Benami Transactions(Prohibition) Rules, 2019 with immediate effect.

Under the rules, BTB zones of Inland Revenue Service have been assigned theduty to establish cases against Benami properties and submit challan toAdjudication Authority within 120 working days.

In a statement, the FBR said that during this period, sale, purchase andtransfer of such Benami property will be banned till further orders.

Appeal against the decision of Adjudication Authority can be lodged withthe Federal Tribunal and after the decision of the Federal Tribunal suchproperties will be confiscated and sold out by the Federal Government.