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Government to intensify efforts against benami transactions: Jairaj Kajla

Jairaj Kajla, Principal Director of Investigation, IT Department, was the chief guest at a seminar organised by the Nagpur Branch of ICAI at Dhantoli, Nagpur.
From L to R: Suren Duragkar, Kailash Jogani, Abhijit Kelkar, Jairaj Kajla, Umang V Agrawal, SPG Mudaliar, Kirit Kalyani , Sudhir Baheti and Saket Bagdia

Jairaj Kajla, Principal Director of Investigation, Income Tax Department, said that the income department is keeping a close watch on the everyday transactions through channels to identify Benami transactions and that the government will further intensify its efforts to track benami transactions. Kajla was speaking at seminar on Prevention of Money Laundering Act, 2012 and Benami Transactions (Prohibition) Amendment Act, 2016? organized by the Nagpur Branch of ICAI at Dhantoli, Nagpur.

Addressing chartered accountants at the seminar, Kajla informed that a violation under the amended act can lead to criminal prosecution and a rigorous imprisonment up to seven years. Kajla also cautioned the members that the act is bit harsh in terms of the consequences of a transaction being identified as benami. He further shared that the Income Tax Department is focusing on identifying such Benami Transactions through various technological modes. The Department is continuously receiving various ‘Suspicious Transaction Reports’ from various sectors all over the country which is being monitored for identifying persons involved in Benami Transactions. He also elaborated that under the Benami Transactions (Prohibitions) Amendment Act 2016, entire property of an individual can be confiscated by the Department without any compensation to him. Kajla also shared that due to the intensive efforts of the departments, various cases have been identified and provisional attachments have already been made including assets such as land, flats, Shops, Fixed Deposits, etc.

Kajla, along with other speakers, was formally welcomed by the branch chairman Umang V Agrawal. Agrawal during his address spoke about the huge professional opportunity for chartered accountants by representing their clients under both the acts. He further requested the members to guide the general public so that a genuine person is not adversely affected by the harsh provisions of the acts. Agrawal, on behalf of the CA fraternity, extended full support to the IT departments exercise in unearthing benami transactions.

Also read: Meet Gurjeet Singh Narula: From a puncture repairer to a successful businessman in Nagpur

Also present during the seminar was Regional Council Member Abhijit Kelkar, who congratulated the branch in organizing a seminar on such a crucial subject while highlighting the larger picture that may come up in the coming days when stringent actions under both the acts will be taken. He also appreciated the department’s assessee friendly atmosphere and thanked the department for considering chartered accountants as its partners at all levels.

In the technical session, chartered Sudhir Baheti spoke on Benami Transactions (Prohibition) Amendment Act, 2016. He explained the various stages involved in adjudicating a transaction as benami transaction while sharing the remedies available for a person who is covered under the act. He also explained the various provisions of the act and has also cited various judicial pronouncement on this subject.

Further, chartered accountant Kailash Jogani, elaborated about the provisions of PMLA. He dealt with the provisions of PMLA with illustrative examples and discussed about schedule offences. He informed that the act has been extended to whole of India including Jammu and Kashmir. In common terms, he said that money laundering is basically conversion of money earned through crimes, smuggling and illegal money as legal money.

SPG Mudaliar, Additional Director of Investigation, was also present during the seminar co-ordinated by chartered accountant and branch vice chairman Suren Duragkar.

Other chartered accoutants present during the seminar Kirit Kalyani (Secretary), Saket Bagdia (Treasurer),   Sanjay Agrawal (Executive member), Naresh Jakhotiya, Mahendra Jain, Prem Ashutosh, RD Parakh, Rajeev Sawangikar among others.

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Thane Municipal Corporation adds 25 beds as COVID cases rise




Radhika Dhawad | Thane

Thane Municipal Corporation added 25 additional beds separately in the wake of rapidly rising COVID-19 cases.

Thane Municipal Corporation (TMC) added 25 additional beds in Chhatrapati Shivaji Maharaj Hospital Kalwa apart from arranging a special ward  dedicated to COVID-19 patients. The total number of active patients in the city stood at 252 while five succumbed to the virus.  Meanwhile, TMC Commissioner Abhijit Bangar said a ‘death audit’ of patients who died of COVID would be conducted. The TMC has ensured it has additional stock of oxygen concentrators, testing kits, medicines, to name a few. Bangar told HT, “Due to the increasing number of Covid patients, it is necessary for everyone to be alert.”

He added, The number of Covid tests should be increased to stay one step ahead of the disease. As a result, the number of patients is likely to increase due to increased testing. However, as per the ‘test, isolate, treat’ protocol for Covid, it becomes necessary to isolate and treat more and more patients. The testing centres will not remain closed even for a single day. At the same time, more arrangements for testing will be made immediately in public places, markets, railway stations, malls.” 

India recorded 3,095 new COVID cases and five deaths in last 24 hours.

Also read: Nagpur records 22 COVID cases in 24 hours

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After Rahul Gandhi’s disqualification, his namesake who contested from Wayanad disqualified




Radhika Dhawad | Wayanad
An independent candidate named Rahul Gandhi has been disqualified from contesting polls for failing to lodge account of election expenses.

Rahul Gandhi

An independent candidate for Lok Sabha elections named Rahul Gandhi was disqualified from contesting polls for failing to lodge account of election expenses. Gandhi, who’s name figures as ‘Rahul Gandhi K E S/o Valsamma’ in an Election Commission list of persons, had contested the 2019 Lok Sabha elections as an Independent and had received 2196 votes from the Wayanad seat in Kerala – a constituency from where ex-Congress MP Rahul Rajiv Gandhi had won with over seven lakh votes.

However, since it is mandatory for all contestants to submit their account of election expenses among other mandatory requirements under EC rules and the Representation of the People Act.

Rahul Gandhi K E S/o Valsamma stood disqualified to contest polls from September 13, 2021 till September 13, 2024. According to Section 10A, the Election Commission can disqualify a contestant for a period of three years from the date of the order if he/she has failed to lodge an account of election expenses within the time and in the manner required by law and has no good reason or justification for the failure.

Also read: ‘CBI under UPA govt. pressurised me to frame Modi,’ recalls Amit Shah

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Nagpur News

Nagpur records 22 COVID cases in 24 hours




Radhika Dhawad | Nagpur

A total of 22 patients tested positive for COVID-19 in Nagpur in past 24 hours on Thursday. Almost 242 people were tested in the city.

A total of 22 patients tested positive for COVID-19 in Nagpur in past 24 hours on Thursday. Almost 242 people were tested in the city, out of which 15 belonged to urban area while and 6 were from the rural areas, and one from outside Nagpur district. 

At present, there are 72 active patients in the city. Three new cases of the new XBB.1.16 variant of COVID-19 were detected that took the total tally to five in the district.  

India recorded 3,095 new COVID cases and five deaths in last 24 hours.

Also read: CELESTIAL! Unique alignment of Moon and 5 planets

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