New Delhi, April 11 (IANS) Since the coming into effect of the amended law on Benami transactions from 1 November last year, show cause notices have been issued in 140 cases involving properties of the value of about Rs 200 crore, Parliament was informed on Tuesday.
“Show cause notices for provisional attachment of benami properties have been issued in 140 cases involving properties of the value of about Rs 200 crore. Out of these, provisional attachment has already been effected in 124 cases,” Minister of State for Finance Santosh Kumar Gangwar toldd the Rajya Sabha in a written reply.
“The benami properties attached include deposits in bank accounts and immovable properties,” he said.
Under the amended Prohibition of Benami Property Transactions Act, the central government has notified specified income-tax authorities to act as Initiating Officer, Approving Authority and Administrator in respect of benami transactions.
This is published unedited from the IANS feed.