After Priyanka Chopra, Shah Rukh Khan In Trouble, IT Department Labeled His Alibaug Farmhouse ‘Benami’
Recently, we have told you that Priyanka Chopra was in trouble with IT Department. The IT department asked her to pay taxes for some luxurious products. Now, Shah Rukh Khan has landed himself in trouble. His AliBaug farmhouse has been attached by the Income Tax Department.
King Khan usually uses his farmhouse for parties and get-together with friends. Recently, he celebrated his birthday in a lavish party, which was attended by his close friends from the industry.
According to the report of Business Standard, the IT department issued an attachment notice under the Prohibition of Benami Property Transactions Act (PBPT) back in December 2017.
A senior IT official said to the portal confirming the news, “Under Section 24 of the Act if the investigating officer believed that the person is benamidar, he can issue the attachment notice to that person or beneficial owner (if identity is known).The law says that the attachment of the property can be done for a period not exceeding 90 days from the date of issuance of the notice.”
According to IT department, the circle rate attached to King Khan’s Alibaug property is Rs. 146.7 million. The farmhouse is a luxurious property spread over an area of 19,960 sq meters and has all the amenities including swimming pool and a private helipad.
Reportedly, an email was sent to SRK’s production company Red Chillies Entertainment and the Chief executive officer of Kolkata Knight Riders on 24th January, which remained unanswered despite several reminders.
The major allegation says that the actor bought the property for agricultural purpose but never used it for that, instead they constructed a farmhouse for personal use.
According to the investigation conducted by IT department, the land transaction falls under “Benami transaction as per the Section 2 (9) of the PBPT Act”. Déjà vu Farms acted as benamidar for the benefits of Shah Rukh Khan.
According to the Maharashtra Tenancy and Agricultural Lands Act, no one can transfer agricultural land to non-agricultural without the permission of the state government or the collector.
The report said, “The intention behind incorporating Deja Vu was to purchase agricultural lands which at present were being used by SRK as his farmhouse. Since Khan could not have purchased the said land in his individual capacity, a mechanism was devised in the form of Deja Vu, which showed its activity as farming. Deja Vu Farms was incorporated by two shareholders– Srinivas Parthasarathy and Somasekhar Sundaresan in the year 2004. In December 2004, the share transfer certificates were signed by the first shareholders in the name of Shah Rukh Khan and Gauri Khan. The first director was replaced by three directors–Ramesh Chhiba, Savita Chhiba and Moreshwar Rajaram Ajgaonkar on the same day,”
Check out the experts from the report published in Business Standard:
“SRK lent an unsecured loan of Rs 84.5 million to Deja Vu Farms.
In 2011, Namita Chhiba was appointed as director of Deja Vu in place of Ajgaonkar.
The IT investigation revealed that till date, the company has not shown any income from farming activity. The investigation report suggests that all the unsecured loans from SRK were being used towards the purchase of land by Deja Vu. Also, Ramesh Chibba, Savita Chibba and Namita Chibba are Shah Rukh Khan’s father-in-law, mother-in-law and sister-in-law, respectively.
The only income source of the farm was by way of the loan which was advanced by SRK to his company, which ultimately was owned by the actor himself.
The report alleged that the control of the company was always with SRK as the directors are relatives of the actor.”
