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Notice to I-T dept over ‘benami’ transaction

The petitioner submitted he and his family run a jewellery business, Lakshmi Jewellery. In 2000, they ventured into business of rendering foreign exchange and travel-related services and started BBPL.

Published: 07th February 2020 05:28 AM  |   Last Updated: 07th February 2020 05:28 AM   |  A+A-

Express News Service

CHENNAI: Naveen Baalaji, a resort owner from Puducherry, alleged to be involved in transacting Rs 148 crore demonetised notes from VK Sasikala, has moved Madras High Court challenging an order of Income-Tax department terming him her ‘benami’ and provisionally attaching all his properties. Admitting the plea, Justice Anita Sumanth issued notice to Deputy Commissioner of Income Tax (Benami prohibition) and adjourned the case to February 19.

Petitioner submitted that Prohibition of Benami Property Transactions Act was invoked on him. He was director of Bonjeur Bonheur Private Limited, which sold a resort near Puducherry, ‘Ocean Spray’ for Rs 168 crore. Of this, Rs 148 crore was paid through demonetised notes.

The petitioner submitted he and his family run a jewellery business, Lakshmi Jewellery. In 2000, they ventured into business of rendering foreign exchange and travel-related services and started BBPL.

In 2009, it ventured into hospitality business and it failed, the family was forced to sell the resort and one Senthil, an advocate forced them to accept Rs 148 crore in old currencies through another person Kumar. The family was paid only Rs 135 crore.



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