Benami attachment order revoked against Shah Rukh

Source: The Hitavada      Date: 30 Jan 2019 08:34:28



ACTOR Shah Rukh Khan has been absolved of the charge of being a beneficiary of a benami property in the scenic beach town of Alibaug in Maharashtra as an appellate Authority under the law has ‘revoked’ the attachment order of the I-T Department, calling it baseless and coloured.

The Adjudicating Authority (AA) slammed the Income Tax Department authority for issuing the order against Khan and a company-- in which he, his wife Gauri Khan and in-laws are shareholders-- in February last year, saying a ‘commerical transaction entered into course of business by an independent entity cannot be coloured as benami transaction because it had sourced the funds from loans.’

A division bench of the AA comprising D Singhai and Member (Law) Tushar V Shah exonerated Khan and 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 investigating officer is revoked hereby.”