Shahrukh Khan In A Legal Mess Regarding His Alibaug Farmhouse.

The Income Tax department has
provisionally attached the Alibaug
farmhouse of actor Shah Rukh Khan under
the new Benami Transactions (Prohibition)
Amended Act, 2016. According to the
department Shahrukh Khan while acquiring
the Dj Vu farms, had applied for it as a
purchase for the purpose of agriculture in
Alibaug, but subsequently converted the
land into a farmhouse for his personal use.
The tax authority has alleged Khan as a
benamidar in case of Deja Vu Farms.
Under the Act, a benami transaction means
any transaction in which property is
transferred to one person for a
consideration paid or provided by another
person. The Act provides for provisional
attachment and subsequent confiscation of
benami properties, whether movable or
immovable. It also allows for prosecution of
the beneficial owner, the benamidar and
the abettor to benami transactions, which
may result in rigorous imprisonment up to
seven years and a fine of up to 25 percent
of the fair market value of the property.
Shahrukh Khan In A Legal Mess Regarding
His Alibaug Farmhouse
The authorities tried contacting Red Chillies
owned by Khan but with no response from
their side.
According to the tax department, Shahrukh
in his tax return has not shown any income
from farming activity on his Dj vu farm
and had also taken unsecured loans of Rs
8.4 crore for the purchase of this land in
Alibaug.
Khan will be given a chance to present his
arguments on the provisional attachment
to, the adjudicating authority of Income
Tax. If found guilty by the adjudicating
authority of Income Tax, Khan can challenge
the order before the Income Tax Appellate
Tribunal.

http://www.koimoi.com/bollywood-news/shahrukh-khan-legal-mess-regarding-alibaug-farmhouse/.