Shah Rukh’s Alibaug Bungalow is a “Benami”- IT

The income-tax (I-T) department has legally reported that actor Shah Rukh Khan’s Alibaug farmhouse bungalow is a “Benami” asset. The bungalow is spread over 19,500 sq ft. Income Tax department has estimated the property rate goes around Rs. 146.7 million. IT officials has said that actor Shah Rukh Khan has to reply back to this action within 90 days.

The major allegation against Shah Rukh Khan is that he used agricultural land and constructed his farmhouse bungalow for his personal use. I-T sources have revealed the attachment notice was issued under the Prohibition of Benami Property Transactions Act (PBPT) in December. The attachment has been done under Section 24 of the Act.

IT officials declared Shah Rukh Khan Alibaug bungalow is a “Benami” property and legal actions will be taken on him. 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. So, Shah Rukh Khan can prove IT department with proper evidence and proofs within 90 days of the notice. If he fails to provide proper proofs to the IT, according to PBPT Act  he can be given rigorous imprisonment up to seven years and has to pay 25% of the property’s value.

Recently, Shah Rukh Khan had a grand party at his new Alibaug Bungalow with his fellow friends in the film industry. Photos of the Alibaug party went viral few months back.

Photo from Shah Rukh Khan’s Alibaug Party

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