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The Income Tax Department challenged an order granting a remedy to the actor Shah Rukh Khan in a case in which he was accused of possessing a property of benami, have declared to Moneycontrol
. the case and slammed the ministry to label a property acquired by Shah Rukh's company as "benami".
Shah Rukh is the first and most important case filed under the Benami Property Law after a rigorous amendment in 2016 was made to crack down on the use of the benami property for the purposes of the property. tax evasion
Under this amendment, a person could be sentenced to a term of imprisonment of up to seven years and be liable to a fine of up to 25 years. % of the fair market value of the benami property. According to the anti-Benami law, once the evidence is established, a benamidar (in whose name the property of the benami is) and a beneficiary (who pays for it) are liable to prosecution.
History of the case
The property went under the computer scanner after the district collector, Vijay Suryavanshi, had sought legal advice on 87 farms, including a bungalow owned allegedly to the actor located along the seafront of Alibaug, for alleged violations of the Coastal Regulatory Area (CRZ). The Agricultural Land Act (MTAL) does not allow the transfer of agricultural land to non-farmers without the permission of district collector or state government, Shah Rukh has purchased the land at Alibaug for agricultural purposes, but instead built a farm.
By 2018, the computer department had attached the farm of the actor built on agricultural land and neighboring parcels (bearing the numbers 188 / A, 188 / 1B, 188/2, 188/3, 188 / 4, 187/1) to Alibaug worth about 15 crore Rs. [1 9659002] She described the company, Deja Vu Pvt Farms, benamidar, and actor at 53 years old , the beneficiary of a benami transaction within the meaning of the law prohibiting the Benami real estate transaction
. "transaction benami pursuant to section 2 (9) of the 1988 Prohibition Act Benami's real estate transactions, in which Deja Vu Farms acted as benamidar for the ultimate benefit of Khan.So, the actor is a beneficiary of said transaction in accordance with the prescribed law, "said the report. computer inquiry submitted to the contracting authority at the time of the application for provisional seizure.
The contracting authority has criticized the IT department for making the order against Shah Rukh and the company in which he, his wife Gauri and his in-laws are shareholders, claiming that a "commercial transaction commenced in the course of activities by an independent entity can not be described as benami transaction because it comes from borrowings "
He dismissed the allegation of the taxman who claimed that the operation had been carried out on the" desire and l & # 39; "Khan's instruction and on" unsecured loans "amounting to about 14.67 million rupees he had provided to the company. The ministry had stated that, since Shah Rukh was "not a farmer, he was seeking to acquire the land by creating Deja Vu Farms Pvt, a facade entity and giving it the status of a company engaged in agricultural activities."
Position
A source in the IT department stated that she now had a sufficient basis to prove this transaction as a benami and build a solid case against Shah Rukh .
"The law allows people who buy property from their own capital, it falls under the Benami Property Act. This fact has been ignored by the contracting authority. He interpreted the definition of what is wrongly a property of benami in this case, "said the source.
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