7 IAS, 13 IPS Officers of UP Under Income Tax Radar for Benami Properties
The Income Tax Department has initiated a comprehensive inquiry into large-scale land acquisitions in Uttar Pradesh, placing several senior officials and political leaders under scrutiny. The department’s Benami Property Cell is currently reviewing land purchases made over the last six years. Notable figures involved include eight IAS officers, 13 IPS officers, seven politicians, and one retired IAS officer.
The Investigation Process
This investigation concentrates on the acquisition of plots that exceed 1,000 square meters, particularly in prime areas where property values are significantly elevated. The department is comparing these acquisitions with the owners’ Income Tax Returns (ITRs) to verify whether the properties were properly disclosed. They are examining payment methods, bank transactions, and the relationships between property buyers and their family members.
According to sources, the Lucknow Development Authority (LDA) has provided a list of 242 individuals associated with these transactions. This list spans 16 years of data, but the primary focus of the investigation is on activities from the past six years.
What’s Under Review?
The Benami Property Cell is reviewing several key aspects:
- Whether land buyers reported their purchases in their ITRs.
- The payment methods utilized in the transactions.
- The connections between bank accounts and property buyers.
- The number of assets declared in the ITRs, along with corresponding documentation.
High-Level Monitoring
A specialized team, composed of senior officials, has been established to lead this investigation. Junior officers are assigned to conduct meticulous examinations, and findings are routinely communicated to the department’s headquarters. Contributions from other departments are also being gathered to enhance the investigation.
Significance
This investigation underscores the heightened vigilance of the Income Tax Department toward benami transactions and undisclosed assets. By scrutinizing high-value land deals, the department aims to uncover potential financial discrepancies and promote transparency in property exchanges.
The ongoing inquiry could expose widespread irregularities and may result in significant legal repercussions for those found culpable. This case serves as a strong reminder to individuals attempting to evade tax regulations and hide wealth through benami transactions.