IT Department has attached benami properties worth Rs 3500 cr including immovable properties of more than Rs 2900 cr.
More than 900 cases were registered under the Prohibition of Benami Property Transactions Act which came into effect from I November 2016. The attachments include land, flats, shops, jewellery, vehicles, deposits in bank accounts, fixed deposits etc.
In five cases, the provisional attachments of Benami properties, amounting to more than Rs. 150 crore have been confirmed by the Adjudicating Authority. In one such case, it was established that a Real Estate Company had acquired about 50 acres of land, valued at more than Rs.110 crore, using the names of certain persons of no means as benamidars. This was corroborated from the sellers of the land as well as the brokers involved.
In another case, post demonetization, two assesses were found depositing demonetized currency into multiple bank accounts in the names of their employees, associates etc. to be ultimately remitted to their bank accounts. The total amount attempted to be remitted to the beneficial owners was about Rs. 39 crore. In yet another case, a cash amount of Rs. 1.11 crore was intercepted from a vehicle with a person who denied the ownership of this cash. Subsequently, no one claimed ownership of this cash and it was held to be benami property by the Adjudicating Authority.