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Shahrukh Khan & Juhi Chawla Get Relief As Bombay High Court Stays IT Department’s Show-Cause Notice!

Offering relief to actors Shahrukh Khan and Juhi Chawla, the Bombay High Court has stayed the show-cause notices issued to them by the Income Tax Department over alleged undervaluation of shares. In an interim order passed last Friday, a bench of Justices M S Sanklecha and R I Chagla held that the IT department's notices were prima facie not based on any concrete evidence or finding. In March 2017, the IT department had issued notices to the Knight Riders Sports Pvt Ltd (KRSPL) and its directors Shah Rukh Khan, his wife Gauri Khan and Juhi Chawla. According to the notice, after the success of IPL, KRSPL issued 50 lakh shares to a firm in Mauritius and another 40 lakh shares


This post first appeared on Fun On Net, please read the originial post: here

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Shahrukh Khan & Juhi Chawla Get Relief As Bombay High Court Stays IT Department’s Show-Cause Notice!

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