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Tuesday, August 2, 2011

CRICKET SCANDAL: Parliamentary report says BCCI, IPL evaded tax!

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Sumon K Chakrabarti, CNN-IBN / Updated Aug 02, 2011 at 06:39pm IST.

New Delhi: A parliamentary panel has rapped on the knuckles of the BCCI and Income Tax Department, alleging that four teams of the cash-rich Indian Premier League (IPL) routed investment from abroad, sources told CNN-IBN on Tuesday.
The teams involved in this latest IPL mess are Mumbai Indians, Rajasthan Royals, Kolkata Knight Riders and Kings XI Punjab, who, the panel alleged, have got foreign investments without approval.
The panel - headed by former Finance Minister Yashwant Sinha - has thus demanded that all tax exemptions given to the BCCI be withdrawn and those given specifically for the World Cup be reviewed.

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