​​​Pre-requisites under Section 24 for the IO to issue a show-cause notice to the Benamidar for confiscation of the alleged Benami property:

1. ​The material is collected by the Income-Tax Department and is in the possession of IO;
2. Based on the material in possession, IO forms a belief that property is held Benami by a Benamidar, and he has reasons for that belief;
3. IO records reasons for belief that property is held Benami by a Benamidar.
   
   When the above conditions are satisfied, the IO can issue a show-cause notice to the person he has reasons to believe is a Benamidar in respect of any property to show cause within the time specified in the notice why property mentioned in show cause notice should not be treated as a Benami property.​
   

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