Section 281A carried the heading "Effect of failure to furnish information in respect of properties held benami". Its text is no longer in the Act. The Act now shows only the note: "[Repealed by the Benami Transactions (Prohibition) Act, 1988, w.e.f. 19-5-1988.]"
Operative consequences
No obligation, bar or consequence arises under section 281A for any assessment year now open.
The Income-tax Act, 2025 contains no equivalent provision.
Status
Section 281A is not operative; it stands repealed with effect from 19-5-1988. The Finance Act, 2026 did not touch it.
The 1961 Act governs assessment year 2026-27 and earlier; the Income-tax Act, 2025 governs tax year 2026-27 onwards. For this subject there is no 2025 Act provision.
Function in the statutory architecture
Section 281A carried the heading "Effect of failure to furnish information in respect of properties held benami". Its text is no longer in the Act. The Act now shows only the note: "[Repealed by the Benami Transactions (Prohibition) Act, 1988, w.e.f. 19-5-1988.]"
Operative consequences
Status
Section 281A is not operative; it stands repealed with effect from 19-5-1988. The Finance Act, 2026 did not touch it.
The 1961 Act governs assessment year 2026-27 and earlier; the Income-tax Act, 2025 governs tax year 2026-27 onwards. For this subject there is no 2025 Act provision.