Shahrukh suffers over Rs 17.84cr gift; IT summons

Mumbai, Jan 10: The Income Tax (IT) department summoned Bollywood actor Shahrukh Khan (SRK) over Signature Villa on Palm Jumeirah in Dubai. The gift valued Rs 17.84 crore.

According the media report, the 'gift' was originally the reward of promoting Nakheel Public Joint Stock Company which reportedly handed over the villa to the Khans.

The company, however, confirmed the IT department in Oct 2010 that SRK did not provide any professional services to the company

As Times of India reported, according to a notice issued by the IT department on Dec 27, 2010, Nakheel has been using Khan's name for endorsing its Palm Jumeirah project since 2004 on its official website as well as electronic and print media.

The notice issued by the IT department claimed, "The company is an artificial juristic person devoid of any natural senses such as love and affection. This rules out the concept 'natural love and affection' and 'without any consideration' which are vital elements to characterize the gift."

OneIndia News