New Delhi: The Income-Tax Department attached a ‘benami’ plot worth Rs 400 crore in Noida of BSP supremo Mayawati‘s brother and his wife, stated an official order.
The seven-acre plot is ‘beneficially owned’ by Anand Kumar and his wife Vichiter Lata. The Benami Prohibition Unit (BPU) of the IT department issued a provisional order for the attachment of these properties on July 16. Notably, the order was issued under Section 24(3) of the Prohibition of Benami Property Transactions Act, 1988.
The attached asset measures upto 28,328.07 square meters or about seven acres, stated the order. It is considered to be the ‘benami’ property with a book value of Rs 400 crore.
The law stipulates that a violator of the Benami Act can face rigorous imprisonment up to seven years besides being liable to pay fine up to 25 per cent of the fair market value of the ‘benami’ property.
The department started initiating action under the new Benami Transactions (Prohibition) Amendment Act, 2016 from November 1, 2016, after the Modi government enforced the dormant-lying law from that year. “The Income Tax Department has already attached and confiscated benami properties worth more than Rs 6,900 crore,” stated a report at the beginning of the year.
Notably, the IT Department is the nodal department to enforce the Benami Act in the country. The report added that people who furnish false information to authorities under the law– Prohibition of Benami Property Transactions Act, 2016– are prosecutable and may be imprisoned up to 5 years besides being liable to pay fine up to 10 percent of fair market value of benami property.