Income Tax Dept attaches Al-Jabriya Court building under Benami Property Act

 












The Income Tax department has provisionally attached a south Mumbai building named Al-Jabriya Court under the Benami Properties Act initiated against its buyer, Aslina Agro & Horticulture Private Limited. This is the first action of the Income Tax department under Benami Transactions Prohibition Act. The department has attached a Rs 100 crore property of Al Jabriya which is at Marine Drive, Mumbai.

This action is against the sitting Minister of MVA govt. For the unversed, this building was probed by the Enforcement Directorate (ED) in its money laundering case against Maharashtra State Minister of Food and Civil Supply, Consumer Affairs, Chhagan Bhujbal and his nephew Sameer over alleged irregularities in the construction of Maharashtra Sadan. The probe is still underway.

The (ED) is probing if Bhujbal laundered Maharashtra Sadan scam money to buy the sea-facing building in Marin Drive from a Kuwaiti royal family member in the name of his political associate and businessman Arshad Siddique.

The ED had earlier found evidence that show Siddique along with Bhujbal’s nephew Sameer travelled to Kuwait in December 2013, met the royal family and discussed the deal. The royal family occupied only the top floor of Al-Jabriya Court while other flats were rented out. The family reportedly sold their entire rights in the building allegedly to Bhujbals.

The probe initiated against the company that bought the said building found that it did not have adequate funds to purchase the building whose market valuation is over Rs 100 crores

The attachment forms part of the I-T department’s ongoing probe against Aslina Agro & Horticulture Private Limited. The department hasn’t summoned Bhujbal or his nephew in the said matter and the present investigation focuses on the company and its directors.

The tax department issued a show cause notice to the director of the company earlier this month under Section 24 (1) of the PBPT Act, saying it had sufficient information to investigate the firm. For the uninitiated, Section 24 (1) deals with notice and attachment of properties involved in benami transactions.




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