Immovable properties worth Rs. 10,683 crore attached so far in FY23 by tax authorities

A total of 204 immovable properties worth Rs 10,683 crore have been attached in the current financial year 2022-23 (till January 31) by both direct and indirect tax authorities in various investigations against tax offenders, data shared by the government in Parliament showed.

Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) had attached 1,657 immovable properties in 2021-22 worth Rs 19,832 crore, out of which five immovable properties worth Rs 23.95 crore were disposed of by the authorities. In 2020-21, a total of 1,304 properties were attached worth Rs 16,949 crore, while 12 properties worth Rs 3.11 crore were disposed of by the tax authorities.

“Many cases where properties are attached by CBDT and CBIC are challenged before the Court and unless Court decides the matter, these properties cannot be disposed of,” Minister of State for Finance Pankaj Chaudhary said in a written response to a question in Rajya Sabha.