Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: due date for vat payment :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT RATES :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4%
« News Headlines »
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016

I-T officials raid office
April, 22nd 2010

The Income Tax department on Thursday raided office of the Sahara Group, owner of IPL's Pune team, at Aliganj in Lucknow. Sahara sources say IT department surveyed the office to check papers in connection with the IPL controversy.

Sahara officials said, "We are fully cooperating with the I-T department as we have nothing to hide." The IPL and its associates have been subject to nationwide tax raids over the past few days and authorities have summoned IPL officials on Friday to hand over all paperwork related to the tournament.

Many franchises have jumped to Modi's support, saying he was responsible for the success of the IPL and should be allowed to continue.

Tax officials had conducted search operations at the offices of the Bengal Cricket Association and Shah Rukh Khan's Kolkata Knight Riders till the early hours of Thursday and claimed to have found "incriminating evidence" of irregularities.

"We have found incriminating evidence. We will investigate further. We needed to have a look at certain transactions and we've found whatever we were looking for," said Indian Revenue Service Deputy Director Akhilendu Jadhav.

The main angle that the sleuths of the Directorate of Income Tax Investigation were looking for on the probe into the Indian Premier League (IPL) franchises was the legality of money transfers from tax havens abroad, primarily Mauritius, officials explained.

This apart, officials of the Directorate of Enforcement were probing the legitimacy of transactions between the franchise and the state's cricket board, the officials added.

The federal revenue department had Wednesday broadened the probe into the financial deals of IPL, even conducting search operations on three of its event management and broadcast firms in Mumbai, apart from the franchises.

The 10 franchises under scrutiny are Kochi's Rendezvous Sports, Pune's Sahara group, Mumbai Indians, Delhi Daredevils, Kolkata Knight Riders, Royal Challengers Bangalore, Deccan Chargers, Chennai Super Kings, Rajasthan Royals and Kings XI Punjab.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions