Income Tax dept freezes asset worth Rs 15 cr belonging to VK Sasikala
India Today
An asset worth Rs 15 crore belonging to VK Sasikala has been frozen by the Income Tax department under the Benami Transactions (Prohibition) Act, 1988. Sources say that assets worth over Rs 2,000 crore have been attached in connection with an ongoing operation.
The Income Tax (I-T) department on Friday, July 1, froze an asset worth Rs 15 crore allegedly belonging to AIADMK supremo Jayalalithaa's close aide, VK Sasikala. The property was frozen under the Benami Transactions (Prohibition) Act, 1988.
As per the act, any transaction in which property is transferred to one person for a consideration paid by another person is defined as a Benami transaction.
According to sources, the I-T department’s move is part of an already ongoing operation. Assets worth over Rs 2,000 crores have already been attached by the I-T department in connection with Benami transactions.
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