The Income Tax Department has attached prime land parcels and properties linked to the Pintail-Amravati real estate group. The investigation revealed that key individuals, including Chaturvedi and his network, may have been involved in a complex scheme to
Income TaxBenami PropertiesPintailamravati GroupReal EstateChaturvediReal EstateJan 14, 2025
A benami transaction is a financial or property transaction made in the name of a third party to conceal the true ownership and avoid taxes or other legal obligations. The term 'benami' means 'without a name' in Hindi.
The Income Tax Department seized the properties linked to the Pintail-Amravati Group because they were involved in suspected benami transactions. These transactions were used to hide the true ownership of the properties and evade taxes.
Chaturvedi is a prominent figure in the real estate industry and a key focus of the Income Tax Department's investigation. The probe has revealed his involvement in a network of shell companies and intermediaries used to facilitate benami transactions.
The seizure of benami properties is expected to have a significant impact on the Pintail-Amravati Group's operations. It could affect the group's ability to undertake future projects and generate revenue, leading to legal and financial challenges.
Yes, the investigation is still ongoing. The Income Tax Department is working closely with other law enforcement agencies to ensure that the full extent of the group's illegal activities is uncovered and that those responsible are held accountable.
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