Government crackdown on benami properties is welcome but who will chase the politicians?
6 years, 6 months ago

Government crackdown on benami properties is welcome but who will chase the politicians?

Firstpost  

Businessmen, industrialists are easy targets but politicians, while being easy to malign, are difficult to proceed against About Rs 4,300 crore worth of benami properties have reportedly been attached thus far, after the refurbished Prohibition of Benami Properties Act came into effect on 1 November 2016. It has so far upheld 100 attachments, which means the government can now confiscate these properties without compensation, besides sending the violators to jail for anything between one to seven years and extracting a penalty of up to 25 percent of the value of the properties confiscated. To be sure, the Election Commission extracts the property details of those contesting elections under an affidavit These are promptly passed on to the CBDT as well but the futility of this exercise is no politician declares his/her benami properties to the EC. If a mind-boggling increase in assets during the short interval of five years between two elections can raise eyebrows, imagine the effect if and when properties held benami are revealed.

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History of this topic

Massive cash, gold seizure in Bhopal triggers probe into Benami properties
3 weeks, 4 days ago

Massive cash, gold seizure in Bhopal triggers probe into Benami properties

New Indian Express  

BHOPAL: Two simultaneous searches by the Income Tax Department and state’s anti-corruption agency, Lokayukta Special Police Establishment and seizure of a massive haul of unaccounted gold and Rs 11 crore cash from a MUV in Bhopal may lead to a plethora of Benami properties in Madhya Pradesh. Ongoing probe by the Income Tax Department and Lokayukta SPE into the businesses …

Ajit Pawar gets relief as income tax department clears properties worth over ₹1,000 crore in benami case: Report
1 month, 1 week ago

Ajit Pawar gets relief as income tax department clears properties worth over ₹1,000 crore in benami case: Report

Live Mint  

In a significant development, the Income Tax Department has reportedly cleared properties worth over ₹1,000 crore seized in 2021 from Maharashtra Deputy Chief Minister Ajit Pawar and his family. This decision came after the Prevention of Benami Property Transactions Appellate Tribunal dismissed allegations that Pawar and his family owned benami properties. The tribunal's ruling coincided with Pawar's swearing-in as Deputy …

Big court relief to Ajit Pawar as assets seized in benami case cleared
1 month, 1 week ago

Big court relief to Ajit Pawar as assets seized in benami case cleared

India Today  

In major relief to Maharashtra Deputy Chief Minister and Nationalist Congress Party leader Ajit Pawar, the Income Tax Department on Friday cleared all his properties seized in the 2021 benami case. The case originated on October 7, 2021, when the Income Tax Department conducted raids on several companies, recovering documents that purportedly linked certain properties to Ajit Pawar and his …

Former Uttar Pradesh minister Gayatri Prajapati on I-T radar after 18 more ‘benami’ properties identified
Trending News
1 month, 3 weeks ago

Former Uttar Pradesh minister Gayatri Prajapati on I-T radar after 18 more ‘benami’ properties identified

Live Mint  

Former Uttar Pradesh cabinet minister Gayatri Prajapati, who is in jail in a gang rape case, is facing fresh trouble. The move came three days after the department identified Gayatri Prajapati’s four ‘benami’ properties valued at ₹1.21 crore in the form of plots at different locations in Lucknow. Recently, the I-T department attached 18 ‘benami’ properties of the former minister …

18 more ‘benami’ properties of ex-min Prajapati on I-T radar
1 month, 3 weeks ago

18 more ‘benami’ properties of ex-min Prajapati on I-T radar

Hindustan Times  

LUCKNOW The income tax department is likely to attach 18 more ‘benami’ properties of jailed former cabinet minister Gayatri Prajapati that were purchased in the name of other people, under the provisions of Prohibition of Benami Property Transaction Act, 1988, said officials. The department had recently identified 18 ‘benami’ properties of the former minister in Barabanki, Rae Bareli, Unnao and …

Probe agency takes possession of 15 'benami' properties linked to DMK MP A Raja
1 year, 3 months ago

Probe agency takes possession of 15 'benami' properties linked to DMK MP A Raja

India Today  

The Enforcement Directorate on Tuesday took possession of 15 immovable properties owned by DMK MP and former Union Minister A Raja. The central agency invoked provisions under the Prevention of Money Laundering Act, 2002 in a disproportionate assets case against the former Union Minister and took possession of the assets. As per the ED, Raja, during his tenure as the …

ED takes possession of assets belonging to DMK MP A. Raja
1 year, 3 months ago

ED takes possession of assets belonging to DMK MP A. Raja

The Hindu  

The Directorate of Enforcement has taken possession of 15 immovable properties allegedly owned by DMK MP A. Raja in the name of a benami company M/s Kovai Shelters Promoters India Pvt. Ltd. To get today’s top stories from the State in your inbox, subscribe to our Tamil Nadu Today newsletter The central investigation agency invoked provisions under the Prevention of …

ED Takes Possession of 15 'Benami' Assets Linked to DMK MP A Raja
1 year, 3 months ago

ED Takes Possession of 15 'Benami' Assets Linked to DMK MP A Raja

News 18  

The Enforcement Directorate on Tuesday said it has taken possession of 15 immovable ”benami” properties, worth about Rs 55 crore, alleged to be belonging to DMK MP A Raja as part of a money laundering probe against the former Union telecom minister. In a statement, the ED said it has ”taken possession of 15 immovable properties owned by A Raja …

ED takes possession of 15 'benami' assets linked to DMK leader A Raja as part of money laundering probe
1 year, 3 months ago

ED takes possession of 15 'benami' assets linked to DMK leader A Raja as part of money laundering probe

India TV News  

The Enforcement Directorate on Tuesday said it has taken possession of 15 immovable assets of DMK MP A Raja which were held in a "benami" manner. These assets, worth about Rs 55 crore, allegedly belong to Raja as part of a money laundering probe against the former Union Telecom Minister. "ED has taken possession of 15 immovable properties owned by …

I-T Dept Attaches Assets Worth Rs 50 Crore After Raids in 'Benami' Case Against SP Leader Abu Azmi
1 year, 3 months ago

I-T Dept Attaches Assets Worth Rs 50 Crore After Raids in 'Benami' Case Against SP Leader Abu Azmi

News 18  

Newly constructed flats and a building complex in Varanasi and bank deposits worth about Rs 50 crore have been attached under the anti-benami properties law by the Income Tax department as part of its probe against Maharashtra Samajwadi Party MLA Abu Azmi and his alleged associates, official sources said on Saturday. Sources told PTI that the raids have ended and …

ED seizes assets worth over Rs 121 crore in Pune bank fraud case
1 year, 7 months ago

ED seizes assets worth over Rs 121 crore in Pune bank fraud case

India Today  

The Enforcement Directorate has provisionally attached 47 immovable properties worth Rs 121.81 crore in Pune and movable assets worth Rs 54.25 lakh of Devi Concrete Products under the provisions of the Prevention of Money Laundering Act, 2002. The ED initiated the PMLA investigation based on a predicate FIR at Pune’s Vimantal Police station against Vinay Aranha of the Rosary Education …

IT-Dept provisionally attaches properties linked to NCP leader Ajit Pawar
3 years, 2 months ago

IT-Dept provisionally attaches properties linked to NCP leader Ajit Pawar

Op India  

The Income Tax Department has provisionally attached properties worth Rs 1000 crore under the Prohibition of Benami Property Transactions Act, 1988, belonging to Maharashtra Deputy Chief Minister and senior NCP leader Ajit Pawar. #JustIn: The Income Tax department has provisionally attached four assets including a cooperative sugar factories liked to NCP leader Ajit Pawar under the Prohibition of Benami Property …

IT Attaches Sasikala’s Properties At Payyanur Under Benami Act
3 years, 4 months ago

IT Attaches Sasikala’s Properties At Payyanur Under Benami Act

ABP News  

Chennai: The Income Tax Department on Wednesday attached properties of Sasikala, former AIADMK General Secretary and aide of J Jayalalithaa, which was worth Rs 100 crore at Payyanur on OMR under the Benami Transactions Act. The former AIADMK General Secretary Sasikala was held in a disproportionate assets case and was released after a four year jail term from Parappana Agrahara …

Benami transactions: I-T dept files prosecution complaint against Maharashtra minister Chhagan Bhujbal
3 years, 4 months ago

Benami transactions: I-T dept files prosecution complaint against Maharashtra minister Chhagan Bhujbal

India Today  

The Income Tax department has filed a prosecution complaint against Maharashtra minister and NCP leader Chhagan Bhujbal, his son Pankaj, nephew Sameer and their various companies over benami transactions worth Rs 100 crore. They were allegedly bought using investments made through benami companies by Bhujbal, his son Pankaj and nephew Sameer. READ | ACB opposes Chhagan Bhujbal plea for discharge …

Benami law—the long arm of tax authorities
4 years ago

Benami law—the long arm of tax authorities

Live Mint  

The word benami means “without a name”. As an example, a benami property is a property bought by a person in the name of another person. Legislative backdrop The Benami Transactions Act, 1988 was introduced to prohibit benami transactions and to recover the property held as benami. Let us now look at some of its key provisions: Benami transactions Under …

About 100 'Benami' Assets with Links to Retired Govt Officials Unearthed After I-T Raids in Bhopal: CBDT
4 years, 4 months ago

About 100 'Benami' Assets with Links to Retired Govt Officials Unearthed After I-T Raids in Bhopal: CBDT

News 18  

New Delhi: The Income Tax department has unearthed a network of about 100 "benami" properties, some linked to retired government officers, after it conducted raids in Bhopal, the CBDT said on Friday. The Central Board of Direct Taxes said documents seized during the searches launched at various locations in the capital city of Madhya Pradesh on Thursday indicate that a …

VK Sasikala in trouble after I-T department attaches ‘benami’ assets worth Rs 1,600 crore, including properties in Chennai, Puducherry
5 years, 2 months ago

VK Sasikala in trouble after I-T department attaches ‘benami’ assets worth Rs 1,600 crore, including properties in Chennai, Puducherry

Firstpost  

The Income Tax Department has attached ‘benami’ assets worth Rs 1,600 crore belonging to VK Sasikala, an aide to former Tamil Nadu chief minister J Jayalalithaa New Delhi: The Income Tax Department has attached ‘benami’ assets worth Rs 1,600 crore belonging to VK Sasikala, an aide to former Tamil Nadu chief minister J Jayalalithaa, officials said on Tuesday. Nine properties, …

Tax department attaches Rs230 crore ‘benami’ assets of Mayawati’s ex-secretary
5 years, 3 months ago

Tax department attaches Rs230 crore ‘benami’ assets of Mayawati’s ex-secretary

Live Mint  

The income tax department has attached "benami" assets worth Rs230 crore of retired IAS officer Net Ram who also served as secretary to former Uttar Pradesh chief minister Mayawati, official sources said on Tuesday. A provisional order of the attachment against Net Ram has been issued by the Delhi investigation unit of the department under section 24 of the Prohibition …

Uttarakhand to enact law against benami properties
5 years, 5 months ago

Uttarakhand to enact law against benami properties

The Quint  

Dehradun, July 21 Uttarakhand Chief Minister Trivendra Singh Rawat said, here on Sunday, his government would bring a benami property bill in the Assembly to check corruption. "We will bring a strong law against benami property to control corruption," Chief Minister said at a function. The Chief Minister pointed out that Parliament had already passed the Benami Transactions Act, which …

I-T dept attaches benami plot in Noida worth Rs 400 crores belonging to BSP supremo Mayawati’s brother and wife
5 years, 5 months ago

I-T dept attaches benami plot in Noida worth Rs 400 crores belonging to BSP supremo Mayawati’s brother and wife

Op India  

Tightening its noose around benami properties, the Income Tax department has attached a ‘benami’ plot worth Rs 400 crores belonging to the brother of BSP supremo Mayawati Anand Kumar and his wife Vichiter Lata. It was “beneficially owned” by Mayawati’s brother Anand Kumar and his wife Vichiter Lata. In 2017, the IT department probe revealed that Mayawati’s brother Anand Kumar …

IT dept attaches Rs 400 crore 'benami' plot in Noida belonging to Mayawati's brother, wife
5 years, 5 months ago

IT dept attaches Rs 400 crore 'benami' plot in Noida belonging to Mayawati's brother, wife

India TV News  

The Income-Tax Department has attached a 'benami' plot worth Rs 400 crore in Noida belonging to BSP supremo Mayawati's brother and his wife, an official order said. The provisional order for the attachment of the seven-acre plot, "beneficially owned" by Anand Kumar and his wife Vichiter Lata, was issued on July 16 by the Delhi-based Benami Prohibition Unit of the …

‘61 individuals declared gross income of over ₹100 crore in AY2017-18’
5 years, 11 months ago

‘61 individuals declared gross income of over ₹100 crore in AY2017-18’

The Hindu  

There were only 61 individuals who declared an income of more than ₹100 crore during assessment year 2017-18, though the number has risen sharply from 38 in the previous year. The number of individuals disclosing a gross total income of more than ₹100 crore in a year in his/her return of income filed with the Income Tax Department was 24 …

Revenue department sends notices to about 10,000 people under the benami law
6 years, 3 months ago

Revenue department sends notices to about 10,000 people under the benami law

Op India  

The revenue department, while scrutinizing data on deposits of demonetized currencies has issued notices to about 10000 people under the benami law seeking sources of their income, as reported by The Economic Times. “Not just income tax but several government departments can now use the data for future investigations.” Experts have reportedly stated that the Income Tax department is focusing …

Benami hunt: Why Narendra Modi govt's latest move could spring a surprise on detractors of demonetisation
6 years, 3 months ago

Benami hunt: Why Narendra Modi govt's latest move could spring a surprise on detractors of demonetisation

Firstpost  

Action under the benami law for deposit of demonetised notes disabuses the naïve notion that all bank deposits automatically become sanitised and legit The law on benami properties prohibits entering into benami transactions. It is against this backdrop that the Narendra Modi government’s seemingly belated drive against large deposits of demonetised notes during the heady and tumultuous days of demonetisation …

Assets case: Enforcement Directorate goes after D K Shivakumar
6 years, 3 months ago

Assets case: Enforcement Directorate goes after D K Shivakumar

Deccan Chronicle  

Bengaluru: Senior Congress leader and Irrigation Minister in the Congress-JD coalition government D.K. The ED on Tuesday registered a case against Shivakumar and his four associates - Sachin Narayan, Sunil Kumar Sharma, Anjaneya Hanumanthaiah and N. Rajendran, under the PMLA based on the chargesheet filed by the Income Tax Department against them earlier this year before a Special Court for …

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