Income Tax Department Attaches Flats and Bank Deposits Worth Rs 150 Crore in Varanasi

The Income Tax department has recently attached newly constructed flats, a building complex in Varanasi, and bank deposits worth approximately Rs 150 crore under the anti-benami properties law. This measure is part of an ongoing investigation against Maharashtra Samajwadi Party MLA Abu Azmi and his alleged associates. The information was disclosed by official sources on Saturday.

Investigation Details

The Lucknow-based benami assets investigation unit of the department had initiated searches in Varanasi and some parts of Maharashtra earlier this week as part of this probe. According to insiders, the raids have now concluded with substantial seizures made.

Among the assets seized are Rs 10 crore worth of bank deposits belonging to a company named Vinayak Group. Also attached is Tower C of a real estate property known as Vinayak Plaza at Maldahiya in Varanasi, which is estimated to have a market value between Rs 40-50 crore. Additionally, 45 flats built as part of the Varuna Gardens project located in Hamrautia locality on the banks of river Ganga were also attached.

Action Under Benami Properties Transaction Act

All these properties have been seized under the provisions laid out by Prohibition of Benami Properties Transaction Act. This act provides for provisional attachment and subsequent confiscation of benami properties—whether movable or immovable—and also includes right and interest in such property.

Azmi's Alleged Ownership

According to sources close to the investigation, these two-bedroom-hall-kitchen (2BHK) and three-bedroom-hall-kitchen (3BHK) flats located within Hamrautia project are allegedly owned by Azmi himself. These residential units are estimated to be collectively worth about Rs 30-32 crore. However, it is important to note that these allegations are yet to be proven in a court of law and the investigation continues.

In conclusion, the recent action by the Income Tax department underlines its commitment towards cracking down on benami properties. By attaching assets worth nearly Rs 150 crore as part of their investigation against MLA Abu Azmi and his associates, they have sent a strong message against illegal property transactions. However, as investigations continue, it remains to be seen how this case will unfold and what implications it could potentially have for other politicians and businessmen involved in similar activities.