Jul

23

BCCI: Once Again In Highlights: Income Tax Department Slaps Another Summon

By Kabir Bedi - Friday, July 23rd, 2010   |   820 views   |  

BCCI,Cricket, Income tax

BCCI,Cricket, Income tax

Countries richest sports authority BCCI always remains in highlights for one or another reason. It seems as if BCC is once again in hot water.

This time Dream Project of BCCI has brought it in the bad eyes of the tax officials. Ever since IPL has begun it has given rise only to controversies one after another every day.

Ever since BCCI has shown the door to Lalit Modi after the discrepancies became public about the bidding in IPL and also about Distribution In The Telecast Rights, the board has been finding itself in hot water owing to one after another rising controversies almost everyday.

Now BCCI has been slapped a summon by the Income Tax Department to be above board about the IPL and everything related to it. Income Tax Department especially wants the all the details of bidding in the IPL.

The latest summon slapped to BCCI has been issued on the name of honorary secretary of the Board Mr. N. Srinivasan.

In this summon he has been asked to provide solid reason for bidding in the IPL in dollars and this time Income Tax Department is also inquisitive about the reasons of making payments in dollars.

Income tax Department has also cleared its doubt that the board had some sort of bank surety in foreign currencies.

In this summon Income Tax Department has also asked BCCI to Submit all the details regarding the shareholding pattern of some teams in the IPL. Income Tax Department also wishes to know whether they make it clear to the law or not?

This is just not the end of burgeoning woes for BCCI because Income Tax Department has also sought the details of even the receipts and payments made by BCCI-IPL when the third edition of the cricket extravaganza was going on.

Income tax Department is also looking to get information about the gate payments earned by the BCCI.

Now Assistant Director of Income Tax Department Says that he wants the entire list of all the companies who were involved in the booking of the IPL tickets by any mean.

They have also asked BCCI to give true information to the Income Tax Department about the donations collected on IPL Tickets with awesome facilities like food and beverages.

It seems as if dream project IPL has become a hard nut to crack for BCCI.

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