Shahrukh
Khan
once
again
seems
to
have
come
under
the
scan
of
the
Income
Tax
(I.T)
Department,
this
time
for
his
sprawling
Signature
villa
at
the
Palm
Jumeirah
in
Dubai.
While
SRK
has
claimed
that
he
received
the
villa
as
a
gift
from
Nakheel
Public
Joint
Stock
Company
(Nakheel
PJSC)
3
years
ago,
the
IT
authorities
believe
that
the
villa
was
given
to
Khan
instead
of
an
endorsement
fee
for
promoting
the
said
company.
The
Signature
villa
owned
by
Khan
is
pegged
at
a
whopping
Rs
17.84
crore.
For
the
assessment
year
2008-09,
Khan
had,
in
April
2009,
filed
returns
declaring
income
of
Rs
126.31
crore.
He
said
his
income
was
from
house,
property,
profession,
capital
gains
and
other
sources.
I-T
department,
however,
assessed
that
the
Villa
was
taxable
and
accordingly
a
notice
was
issued
to
Khan.
The
actor
sent
a
reply
to
an
initial
notice
on
November
26,
2010,
stating
that
the
gift
did
not
constitute
his
income
from
business
or
profession.
Nakheel,
too,
submitted
a
letter
to
the
I-T
department
in
October
2010,
stating
that
Khan
had
not
provided
any
professional
services.
The
company
clarified
that
the
actor
attended
the
Annual
day
function
as
a
gesture
of
friendship
towards
Sultan
Ahmed
Bin
Sulayem,
Nakheel
PJSC's
executive
chairman.
However,
the
I-T
department
wasn't
convinced
and
issued
yet
another
notice
on
December
27,
2010
stating
that
Nakheel
was
using
the
brand
name
for
endorsing
its
Palm
Project
since
2004
on
its
official
website
and
electronic
and
print
media.
Also,
Khan
did
not
show
any
receipts
related
to
the
endorsement.
Since
Khan
is
known
to
charge
huge
fees
for
his
other
endorsements,
the
IT
department
authorities
grew
increasingly
suspicious
as
to
how
the
actor
was
promoting
this
brand
without
charging
any
fees.
One
will
have
to
wait
and
watch
if
the
actor
indeed
ends
up
paying
tax
for
this
sprawling
property
of
his
in
the
days
to
come.
Story first published: Tuesday, January 11, 2011, 11:13 [IST]