₹3.47 Crore Worth of Benami Property Confiscated in Lucknow

The Income Tax Department recently issued a land confiscation order for five plots in Kakori, a district of Lucknow, valued at ₹3.47 crore. The plots were purchased by three real estate firms using large amounts of unaccounted cash. These firms were raided as part of an investigation into illegal property transactions.
Under the Anti-Black Money Law, the Income Tax Department has the authority to seize assets even when the true owner cannot be identified. This power is granted by the Prohibition of Benami Property Transactions (PBPT) Act, 1988. Typically, confiscation orders include the identification of the "benami" or hidden owner, but in this case, the authority has stated that it is provisionally upholding the confiscation order without identifying the benami owner.
In October 2023, the Anti-Benami Unit in Lucknow issued an interim order to seize the five plots. The order was then sent for validation, and on November 26, 2024, the authority decided to uphold the confiscation order provisionally. This move reflects the government's commitment to tackling black money and illegal property transactions.
The PBPT Act allows authorities to confiscate properties involved in benami transactions, where the asset is held in someone else's name to hide the real owner's identity. Even if the true owner cannot be traced, the law allows for the asset to be seized and its ownership nullified.