NEW DELHI: The Income Tax department has registered over 230 cases and attached assets worth Rs 55 crore nationwide as part of its post demonetisation action under the newly enforced Benami Transactions Act.
Violations of the Act, made operational from November 1 last year, attract a heavy penalty and rigorous jail term up to seven years.
“A total of 235 cases and instances have been registered under the said Act by the department till mid-February. Show cause notices for attachment have been issued in 140 cases where benami assets worth Rs 200 crore are involved.
“In 124 cases, benami assets worth more than Rs 55 crore have been provisionally attached till now,” an I-T report, said.
The attached assets, officials said, include deposits in bank accounts, agricultural and other land, flats and jewellery, among others. (AGENCIES)
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