Hyderabad: Three persons who found lakhs of rupees deposited in their bank accounts after demonetisation last year, have complained to the Benami unit of the income-tax department.
The account of a woman from the low-income group was credited with Rs10 lakh in old notes from an unknown account. The other two persons knew the depositor but chose to report the transaction to the Benami unit.
The cases have been forwarded to the head office in New Delhi, and the matter is under investigation.
A senior officer unwilling to disclose his identity, revealed, “The transactions were done on different dates in November 2016, immediately after demonetisation was announced. Three different businessmen from the city made cash deposits of total Rs 1.5 crore in the old currency into three accounts.”
“The lady received Rs 10 lakh in her account. The other two cases were of men who were business partners with the offender. The complaint was lodged in the same month. The accounts have been seized and the role of the banker is also being investigated,” he said.
The officer added that the intention of transferring old currency notes to bank accounts was to regain the money in new currency, with the help of the account holder into whose account the money had been transferred, after the currency was exchanged.
“However, the three chose to complain. The case has been forwarded to the adjudicating authority in New Delhi. The violators' accounts are under the scanner. This is a violation as per the recently amended Prohibition of Benami Property Act, section 2 (8), 2016. The offender is liable for seven years imprisonment and 25 per cent penalty on the amount transferred," the official said. The Central Board of Direct Taxation is the agency authorised to prosecute violators.
