Few days ago, Income Tax Department seized the Alibaug farmhouse of Shahrukh Khan under the new Benami Transactions (Prohibition) Amended Act, 2016. The Actor purchased the agriculture land through Deja Vu Farms and later built a farmhouse which have a beach, private helipad and swimming pool. SRK's Father-in-Law, Mother-in-Law and Sister-in-Law are acting as Directors of Deja Vu Farms.
Shahrukh's Former Chartered Accountant Ajagaonkar admitted forging documents as per the instructions of the Bollywood Superstar during the interrogation. This include Record of Rights which shows there was a bungalow pre-1991. Whereas, Satellite Images show no such bungalow existed before the purchase of property by SRK.
As per Government records, Shahrukh's Alibaug property spread across 19,960 sq metres is worth Rs 146.7 crore. The market value could be five times more than this price. IT Sleuths estimate King Khan has invested Rs 50 crore to built the farmhouse.
If he is found guilty, Shahrukh Khan could face jail term from 6 months to 7 years. He should be prepared to pay 10 percent of his total wealth as penalty.
Shahrukh's Former Chartered Accountant Ajagaonkar admitted forging documents as per the instructions of the Bollywood Superstar during the interrogation. This include Record of Rights which shows there was a bungalow pre-1991. Whereas, Satellite Images show no such bungalow existed before the purchase of property by SRK.
As per Government records, Shahrukh's Alibaug property spread across 19,960 sq metres is worth Rs 146.7 crore. The market value could be five times more than this price. IT Sleuths estimate King Khan has invested Rs 50 crore to built the farmhouse.
If he is found guilty, Shahrukh Khan could face jail term from 6 months to 7 years. He should be prepared to pay 10 percent of his total wealth as penalty.