The Income Tax department has seized #shahrukh khan's #alibaug #farmhouse under the Prohibition of Benami Property Transactions Act (PBPT). Shahrukh with his huge fan and clout did not deter investigators from unraveling the whole issue which can blow on his face in the coming days.

Bollywood has always been on the crosshair of The Income Tax Department. The entourage of government vehicles filled with severe looking IT officers is a sight which sends shivers down the spine of the high and low of tinsel town. The fourth estate is also not found wanting in such a situation, and rolls of newsprint are expended explaining the nitty gritty of the IT Tax raid on the hapless actress or the actor.

No wonder, the present generation of Bollywood pays their taxes in advance.

The attachment of the farmhouse of the megastar was effected under the Section 2 (9) of the Benami Property Transactions Act or the PBPT Act. The act allows a senior Tax official to investigate a suspicious transaction and term it as benami and issue an attachment notice for any property.

Star acquires land under false intent of use

The actor had obtained the property for purportedly farming activity but instead created a farmhouse sprawling across 20,000 square meters. There was no dearth of luxurious amenities which included a swimming pool, its own beach, and even a helipad.

Collector sought legal advice after name of beneficiary, Shahrukh was unearthed

In November 2017, the Maharashtra Government initiated proceedings against 87 properties against which action could be taken for alleged Coastal Regulatory Zone (CRZ) violations. The said land came under focus during this process. After the original beneficiary came to light, the then Raigad collector Dr. Vijay Suryavanshi even sought legal opinion regarding the same.

The farmhouse which was even christened as Shahrukh’s Deja Vu Farms Pvt Ltd earned the ire of the Income Tax department which took over the farmhouse for not using the land for its stated use. Technically the Department can hold any seized property for a period of 90 days.

It needs to be seen how much steam the IT department to act against the megastar with millions of fan following across the subcontinent.

Will Shahrukh meet the same fate as Salman?

The main charge against the superstar was related to Maharashtra’s Tenancy and Agricultural Lands Act which forbids sale or use of agricultural land for non-agricultural uses. Since Shahrukh Khan could not have personally purchased this land a front in the form of Deja Vu Farms Pvt Ltd was created whose ultimate beneficiary was Shahrukh Khan.

It is a glaring example of benami transaction, and the benefactors of the property can be prosecuted for the crime which can carry a sentence amounting to rigorous imprisonment up to seven years and fine up to 25 percent of the fair market value of the property.

Video of SRK's birthday party at the farmhouse.

Deeper but common malaise

Deeper investigation threw up even murkier details of the deal. Sources revealed that the Board of Directors of the Deja Vu farmhouse included Ramesh Chibba, the star’s father-in-law, Savita Chibba, mother-in-law and Namita Chibba, sister-in-law.

Sharukh was not the first owner of the land which was originally held by two shareholders namely Srinivas Parthasaraty and Somasekar Sundareshan, in 2004 before it was transferred to Shahrukh and Gauri Khan’s name in December 2004. Shahrukh Khan then even provided an unsecured loan of Rs 84.5 million to this company. The farmhouse is at present technically owned by Deja Vu Farms, in a certain Moreshwar Asgaonkar’s name.