property developer falsely accused neighbour 's son-in-law of racist assault .
sanjay chaddah said he was called a ` p ** i ' during dispute with dean paton .
but police found cctv footage that showed in fact he attacked mr paton .
yesterday chaddah was given suspended sentence for assault and perjury .
he punched the air with delight and smirked as he strolled free from court .