Purchase became benami transaction: Income Tax (Express Photo by Pavan Khengre/Files) Purchase became benami transaction: Income Tax (Express Photo by Pavan Khengre/Files)The Income Tax department has provisionally attached the Alibaug farmhouse of actor Shah Rukh Khan under the new Benami Transactions (Prohibition) Amended Act, 2016, according to two senior tax officials familiar with the development. This, the tax authority said, was a “benami transaction” under Section 2 (9) of the Act. The tax authority alleged that Deja Vu Farms acted as benamidar for Khan. The tax department alleged that Deja Vu Farms had so far not shown any income from farming activity. The provisional attachment by the tax authority will have to be ratified by the adjudicating authority of Income Tax after giving Khan a chance to present his arguments on the provisional attachment.

Source: Indian Express January 30, 2018 23:02 UTC