Tax sleuths may invoke Benami Act while probing unexplained cash deposits

By the beginning of November, the I-T department had attached benami assets worth Rs 1,833 crore

Do you have unexplained credits or investments in the books of your company or personal bank accounts? If so, dodging the tax sleuths hunting for black money is no longer your only concern. Now, the Income-Tax (I-T) department is also looking into whether such unexplained credits and investments in personal and corporate income-tax filings are benami transactions. 

Citing unnamed sources who have knowledge of the matter, the Economic Times reported on Friday that tax authorities were also looking into such unexplained credits to ascertain whether they were benami transactions and might even invoke the Benami Act in many cases, whereas