Federal Board of RevenueThe Federal Board of Revenue (FBR) has said that Benami Transactions Adjudicating Authority has confirmed 27 references involving amount of Rs7.4 billion filed against benami transactions by the three Anti-Benami Zones at Islamabad, Karachi, and Lahore which include movable as well as immovable benami properties.
According to a press statement, these references include 5 cases of Benami shares in which Benami transaction of Rs159.644 million was identified, 6 references of Benami immovable properties worth Rs5,849.4 million, one case of Benami bank accounts worth Rs1.040 billion, and 16 cases of Benami vehicles worth Rs351.55 million.
As per law, the Anti-Benami Zones submit references in cases of suspected Benami assets before the Benami Transactions Adjudicating Authority for confirmation/ revocation of attachment of assets and then initiate confiscation proceedings. The Adjudicating Authority, an independent authority established under the law, after due deliberation provides opportunity of being heard to the alleged benamidars and beneficial owners and the referring department as well, said the statement.
