 "benami, real estate, realty, houses, home loan")
The Income Tax Department (I-T Dept) reportedly attached assets worth Rs 18,400 crore under the Benami Transaction Prohibition Act, till July 31. The Supreme Court (SC) on August 23, announced that for transactions made before October 24, 2016, the retrospective use of the act was unconstitutional.
According to a report in BusinessLine (BL), the records do not have segregated data for transactions made before and after October 24.
Till July 31, the I-T Department had issued notices in 3,175 cases amounting to Rs 19,222 crore. Assets have been attached in 2,967 cases and are worth Rs 18,401 crore. In 125 cases,
