https://www.taxtmi.com/news?id=17678 The amendment empowers specified authorities to identify, provisionally attach and ultimately cause confiscation of benami properties, prescribes imprisonment and monetary penalties tied to fair market value for benami offences, and brings various assets including bank deposits and immovable property within the attachment regime. The Government has notified Income tax authorities as Initiating Officers, Approving Authorities and Administrators and has notified an Adjudicating Authority to implement the amended law, with show cause notices issued and provisional attachments effected in multiple cases. en-us Fri, 24 Mar 2017 17:57:44 +0530 Fri, 24 Mar 2017 17:57:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17678 The amendment empowers specified authorities to identify, provisionally attach and ultimately cause confiscation of benami properties, prescribes imprisonment and monetary penalties tied to fair market value for benami offences, and brings various assets including bank deposits and immovable property within the attachment regime. The Government has notified Income tax authorities as Initiating Officers, Approving Authorities and Administrators and has notified an Adjudicating Authority to implement the amended law, with show cause notices issued and provisional attachments effected in multiple cases. News - Fri, 24 Mar 2017 17:57:44 +0530 https://www.taxtmi.com/news?id=17678