IT Dept identifies 235 benami transactions & properties

Properties of Rs 200 crore are involved in such transactions, IT Dept sources said.

New Delhi, Feb 22: The Income Tax Department on Wednesday announced that it had identified and unearthed a large number of benami transactions and properties. ANI quoted sources and said that the cases until February had exceeded 235 in number.

"Out of the benami transactions already identified, the Units set-up under Prohibition of Benami Property Transactions Act have already issued show cause notices for attachment of benami properties in 140 cases," the news agency quoted IT Dept sources.

Properties of Rs 200 crore are involved in such transactions, IT Dept sources said. "Out of these notices, in 124 cases benami properties worth more than Rs 55 crore have already been provisionally attached," sources said.

The government has upped the fight against the transcations of benami properties in the past few months. Union Miniter Venkaiah Naidu had earlier said that the the government will strictly implement the Benami Transactions (Prohibition) Act, 1988

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