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Income Tax Department Attaches Shahrukh Khan's Alibag Farmhouse Under Benami Act!
The Income Tax dept attached Shahrukh Khan's farmhouse in Alibaug under Benami act as the property was purchased for agricultural purposes but was used for personal purposes with luxurious amenities.
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The Income Tax department attached Shahrukh Khan's farmhouse in Alibaug, Maharashtra under 'Benami act' and the property is spread over 19,500 sq ft with a current price of around 146.7 Million. Shahrukh Khan has to reply to the notice in 90 days on the allegation that he made an application to purchase agricultural land for farming, but ended up constructing a farmhouse for his personal use.
IT officials revealed the attachment notice was issued under the Prohibition of Benami Property Transactions Act (PBPT) in December 2017. The attachment has been done under Section 24 of the Benami Act.
The farmhouse 'Deja Vu Farms' was taken up for agricultural purposes, but instead a plush farmhouse was built on the property, with amenities like helipad and swimming pool and other luxury things. The income shown by Deja Vu Farms was of Rs. 84.5 Million, which was an unsecured loan given by Khan to the company.
The PBPT Act enables law enforcement officers to send the accused for up to seven years of imprisonment and pay 25 per cent of the property's value. Also, as per the law, the attachment of the property can be done for a period of 90 days from the date of the issuance of the notice.
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