Q. Details of Benami Property held

Question

As per sub clause (vi) of  clause 6Y of the GENERAL INSTRUCTIONS FOR PREPARATION OF BALANCE SHEET of Schedule III, Division I, of Companies Act, 2013:

Where any proceedings have been initiated or pending against the company for holding any Benami Property under the “Benami Transactions (Prohibition Act, 1988  and the Rules made thereunder, the company shall disclose the following:-

1. Details of such property, including the year of acquisition,
2. Amount thereof,
3. Details of Beneficiaries,
4. If property is in the books, then reference to the item in the balance sheet,
5. If property is not in the books, then the facts shall be stated with reason,
6. Where there are proceedings against the company under this law as an abettor of the transaction or as the transferor, then the details shall be provided,
7. Nature of proceedings, status of same and company’s view on same

Apart from taking a management representation, and scrutinizing the legal/ miscellaneous expenses in the statement of profit and loss, for a clue how can we check the above?

Since the Initiation Officer under this law is the AC/ Dc of income tax, will the transactions appear in the of the company’s dash board in the Income tax site?