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I-T Dept Challenges Relief Given To SRK In Alibaug Farmhouse Case

I-T Dept Challenges Relief Given To SRK In Alibaug Farmhouse Case

I-T Dept Challenges Relief Given To SRK In Alibaug Farmhouse Case
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The Income-Tax (I-T) Department on March 18 challenged the January 29 order in which charges against Shah Rukh Khan were dropped in a benami property issue. The Adjudicating Authority had slammed the department for issuing the order against Khan and a company, in which he, his wife Gauri Khan and in-laws are shareholders.

It was in February last year that the actor's Alibaug farmhouse was provisionally attached under the Prohibition of Benami Property Transactions Act (PBPT). 

The case

The villa that is spread in an area of 19,960 square meters is on papers bought by by Déjà vu Farms, to which the attachment notice was sent in December 2017. However, found to be benamidar, it meant that Khan was the actual beneficiary of the property. So, the notice was further sent to the beneficial owner, Khan in February last year. 

It was reported that the actor bought the property as an agricultural land in Alibaug for farming. However, this property was turned into a lavish residential space for personal use. While the property's circle rate is Rs 146.7 million, the I-T officials say that the market price of the property must be five times higher.

“The said transaction falls under the definition of “benami transaction as per the Section 2 (9) of the PBPT Act, where Deja Vu Farms has acted as benamidar for the ultimate benefit of SRK. Thus, the actor is a beneficiary for the said under the prescribed law,” an I-T investigation report had read at the time when the order was issued against the actor. 

Under the Maharashtra Tenancy and Agricultural Lands Act one cannot transfer an agricultural land to an agriculturist without prior permission of the collector or state government.

About the property

*The property is spread in an area of 19,960 sq mt.

*The property is a farmhouse equipped with a private helipad.

*The interiors of the property have been done by Gauri Khan.  

Last Updated: Wed Mar 20 2019

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