Shah Rukh Khan must be a relieved man. The charges against the superstar for being a beneficiary of a benami property in Alibaug has been dropped. According to a report in PTI, an Appellate Authority under the law has "revoked" the attachment order of the I-T Department and has called it baseless and coloured. It was in February last year when the income tax department issued an order against SRK, Gauri and the actor’s in-laws. The Adjudicating Authority (AA) has slammed IT department stating that a "commercial transaction entered into course of business by an independent entity cannot be coloured as benami transaction because it had sourced the funds from loans."
The IT department sealed the farmhouse and the plot worth Rs 15 crore built on agricultural land. They called the organization, Ms Deja Vu Farms Pvt Ltd, a benamidar (in whose name benami property is standing) and named SRK a beneficiary (who pays money consideration) of a benami deal. They booked the actor under the Prohibition of Benami Property Transaction Act. A division bench of the AA comprising D Singhai (Chairperson) and Member (Law) Tushar V Shah said, "We have come to the conclusion that the named properties, i.e., agriculture land at village Thal, Taluka Alibaug bearing survey nos 188/A, 188/1B, 188/2, 188/3, 188/4, 187/1 and structure thereon are not a benami property and hence the attachment made thereof by the investigating officer is revoked hereby."
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Shah Rukh Khan can now go back to focussing on his films.Read More