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I-T department attaches Shah Rukh Khan's Alibaug bungalow under Benami Act

The Income Tax Department has provisionally attached actor Shah Rukh Khan’s bungalow in Alibaug, terming it a benami property.

Edited by: India TV News Desk, Mumbai [ Published on: January 31, 2018 12:15 IST ]
I-T department attaches Shah Rukh Khan's Alibaug bungalow
I-T department attaches Shah Rukh Khan's Alibaug bungalow under Benami Act

The Income Tax Department has provisionally attached actor Shah Rukh Khan’s bungalow in Alibaug, terming it a benami property.  

The attachment notice was issued to Déjà Vu Farms under the Prohibition of Benami Property Transactions Act (PBPT) in December 2017.

As of now, the I-T department has also issued a showcause notice to Shah Rukh Khan and his luxurious bungalow. 

According to the data of Registrar of Companies, Déjà VU Farms Pvt Ltd was incorporated on December 29, 2004, with interests in crops, gardening and horticulture. 

According to a Business Standard report, the bungalow is worth Rs 146.7 million, but the market price is up to five times that amount.

The farmhouse is spread over 19,960 square metres and has amenities such as a swimming pool and private helipad.

The I-T department has alleged that Khan had applied for purchasing agricultural land for farming, but instead constructed a farmhouse there for personal use. 

“The said transaction falls under the definition of benami transaction as per the Section 2 (9) of the PBPT Act, where Déjà Vu Farms has acted as benamidar for the ultimate benefits of Khan. Thus, the actor is a beneficiary for the said under the prescribed law,” an I-T investigation report was quoted by Business Standard as saying. 

The department has also mentioned that unsecured loans were advanced by Shah Rukh for Déjà vu Farms and no income was shown by the company from farming activities. 

The property came under the scanner after district collector Vijay Suryavanshi claimed that a bungalow purportedly owned by Shah Rukh Khan in Alibaug was among the 87 farmhouses on which Suryavanshi’s office had sought legal opinion to take action for alleged Coastal Regulatory Zone (CRZ) violations.

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