Farmhouse shows no farm income: IT

Mumbai: The Income Tax (IT) Department’s probe into actor Shah Rukh Khan's alleged Alibaug farmhouse 'Deja Vu Farms' found that no farming income was shown from the property ever. This is one of the alleged crucial evidence apart from property documents as the piece of land was bought for agriculture. The investigators also found that the investment was made after taking a bank loan.

"The documents are a crucial piece of evidence in the case. The probe will now continue to ascertain the understanding between the original owner of the property and on-paper owners," said an officer. The property is registered in other persons’ names and the owner is a third person. The details of the two on-paper owners are also under IT Department's scrutiny, sources said.

The notice to attach the property was issued as per the provisions of Prohibition of Benami Property Transactions Act in December.The action was initiated as per provisions of section 24 of the IT Act. The sprawling beach side property, spread around 20,000 sq meters, is slated to be with a whopping Rs 250 crore. Sources said the market rate of the property is likely to rise manifold, keeping in mind the high-end amenities like pool and a helipad.

"The discrepancies in the application and the use of land parcel into farmhouse led to the action," officials said. It was also registered as a private company to further show it as a farm land. Despite attempts, The Asian Age could not reach Mr Khan's spokesperson for a comment.