I-T dept centralises IPL probe in city
The Income Tax (I-T) Department wants to plug all loopholes in the Indian Premier League (IPL) investigation.mumbai Updated: Aug 22, 2010 00:48 IST
The Income Tax (I-T) Department wants to plug all loopholes in the Indian Premier League (IPL) investigation.
To avoid any complications and confusion, the assessment of IPL teams and owners has been centralised.
From now on one official will assess all cases investigated in Mumbai.
Chief commissioner of income tax, Mumbai, PP Srivastava had, this week, issued an order asking all cases to be transferred to a deputy commissioner of income tax. So far, four different ranges of I-T had been assessing IPL teams, their owners and shareholders in Mumbai.
The I-T authorities here are assessing three teams —Mumbai Indians, Rajasthan Royals and Kolkata Knight Riders.
In addition, there are four shareholders of the Kochi team who are being assessed here.
Further, Sahara Adventure Sports Limited, which won the bid for the Pune team is also being assessed in the city.
“Besides, IPL as a body and Board of Control for Cricket in India (BCCI) is also under scrutiny here,” a senior I-T official said, requesting anonymity for lack of authorisation to talk to the media.
He said that with one official investigating all cases, the link would not be lost, which otherwise hampers investigations. The prime job of the assessing officer would be to verify the losses shown by the IPL franchisee owners.
The team owners have shown losses on account of payment of bidding amount to BCCI.
The teams have also claimed depreciation on assets purchased.
“The assessing officer has been asked to minutely scrutinise the losses shown and depreciation claims made by the team owners,” the official said.
To further smoothen the investigation, the Central Board of Direct Taxes (CBDT), which is the apex body of the I-T department, has made Director General of Income Tax (DGIT), Investigation Wing, Mumbai nodal officer who would coordinate with the heads of I-T branches in the country where all IPL investigation is being conducted. “He would coordinate and collate information from all over the country,” the official said.
He added that the DGIT, Mumbai would be in regular touch with CBDT for IPL related investigation.
“This is being done as the parliamentary standing committee is monitoring the entire investigation and has queries from time to time. They also require status report of entire investigation,” the official said.
First Published: Aug 22, 2010 00:46 IST