Shah Rukh Khan allegedly used land bought for agricultural purpose for his own personal use
The income-tax (I-T) department has provisionally attached actor Shah Rukh Khan's sprawling farmhouse in Alibaug. Spread over 19,500 sq ft, the property has a circle rate of Rs 146.7 million. SRK has to reply to the action in 90 days. The major allegation against Khan is that he had made an application to purchase agricultural land for farming, but ended up constructing a farmhouse there for 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.
Deja Vu Farms, which has SRK's in-laws as directors and other members on board, took up the land for agricultural purposes but never used for that. Instead of that, a plush farmhouse was built on the property, with amenities such as a helipad and swimming pool. The only income shown by Deja Vu Farms was of Rs 84.5 million, which was an unsecured loan given by Khan to the company.
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. The PBPT Act enables law enforcement officers to send accused for up to seven years of rigorous imprisonment and pay 25 per cent of the property's value.