Benami Property

The Adjudicating Authority for the anti-benami law has upheld a 2023 land assets attachment order issued by the Income Tax department despite the taxman not being able to identify the "beneficial owner", stating that the said law has specific provisions to deal with such instances. The Authority, a quasi-judicial body, issued the order on November 26 last year in a benami assets case that came to the fore after the department raided three Lucknow-based realty groups that had "purchased big land parcels in the Kakori (Lucknow district) area by paying huge amount of unaccounted cash". The Lucknow-based Benami Prohibition Unit (BPU) of the department issued a provisional order in October 2023 attaching five land parcels in Kakori valued at over Rs 3.47 crore and categorising them as "benami assets". The order was sent to the Authority for confirmation with the name of a 'benamidar' (in whose name a benami property is standing) apart from two companies and two individuals who were named

The district administration here on Monday seized benami property of Bahujan Samaj Party (BSP) leader and two-time MLA Yakub Qureshi worth Rs 31 crore under the Gangster Act, officials said. The seized properties include a hospital building at Bhavani Nagar in Nauchandi and two luxury cars that Qureshi had allegedly purchased in the name of his family members and employees, they said. Three plots in Shastri Nagar measuring 3,265.35 square metres, 288 square metres and 213.60 square metres have also been seized. Senior Superintendent of Police Rohit Singh Sajwan said that in compliance with the order given by the court of District Magistrate under the The Uttar Pradesh Gangsters and Anti-Social Activities (Prevention) Act, benami property of former minister Yakub Qureshi with an estimated value of Rs 31 crore has been seized. Sajwan said that on March 31, 2022, police conducted a raid in a meat factory belonging to Qureshi in Meerut, and had detected the packing of illegally procure

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Supreme Court termed 'The Benami Act' unconstitutional. What is the 1988 Benami property act? What is the Benami Transaction Amendment Act 2016? Why is it unconstitutional? Read to know everything

Says section 3 of the 2016 amendment Act is unconstitutional

Seek action under black money and benami laws for non-disclosure

Change in financial year for I-T purposes expected amid Covid-19 outbreak

The rules and all the provisions of the new Benami Transactions (Prohibition) Act came into force in November 2016

This could be a precursor to a clampdown on such properties

The state is running a pilot by Swedish startup ChromaWay to put land records on a blockchain in fintech hub Vizag

The information will have to be acute and identity of the informer will be kept secret: CBDT official

Arun Jaitley said, 'People should voluntarily made disclosures and come within the tax net'

Tax authorities prepare power packed action plan as demonetisation ends on Friday

Modi said law against Benami property will be turned into an incisive law to deal with such cases

Modi also defended the frequent changes in rules after demonetisation

The law will make a provision of seven year imprisonment and fine, replacing the three-year jail term, or fine, or both

With many offenders identified from digitsed records, govt will seize real estate and fine the owners of benami properties, or even jail them