I-T probing only taxation aspects of transactions in IPL: CBDT

The The Central Board of Direct Taxes today described as “incorrect and unsubstantiated” reports that the Income Tax department has prepared “investigation reports” on the alleged financial wrongdoings in the IPL.

The CBDT said in a press release that the I-T department is investigating only the taxation aspects of transactions relating to the IPL.

“Reports have been appearing in the electronic and print media in the past few days about some tax investigations relating to the Indian Premier League.

“Some of these reports quote from documents stated to be investigation reports of the Income Tax department. It is clarified that claims made in the media in this regard are incorrect and unsubstantiated,” the release said.