I-T survey at Kings XI Punjab office in Mumbai

Published Fri, Apr 23 10 08:52 PM

Mumbai, Apr 23 (PTI) Income Tax officials today surveyed the offices of IPL franchise Kings XI Punjab here as part of the ongoing probe into alleged financial wrongdoings in the T20 league. An I-T team visited the offices of the Mohali-based team in Bombay Dyeing premises at Worli and scoured documents relating to monetary transactions with IPL, a source familiar with the exercise told PTI. "The exercise was strictly to look at documents relating to the franchise''s financial dealings with IPL," he said. Kings XI Punjab has been in the thick of a controversy with the Central Excise Department in Chandigarh slapping a notice on it seeking payment of service tax totalling Rs 5.38 crore. IT sleuths also visited the Mohali office of the team but said it did not find anything incriminating. "We have not found anything incriminating during the visit to the company''s office in Mohali and we also have not seized anything," a senior IOT official told PTI. "We just asked them to provide us the copies of their books of accounts which they did," he said. Earlier on April 21 a court had issued notice to the co-owners of Kings XI Punjab on a complaint accusing the Mohali franchise of non-filing of balance sheet and annual returns. The matter will come up on July 24. The notice was issued by the Court of Chief Judicial Magistrate J S Sidhu on a complaint filed by Registrar of Companies here who alleged that the Mohali franchise has not filed any annual return and balance sheet since it came into existence. The notice had been issued to co-owners including Bollywood actress Priety Zinta and industrialist Ness Wadia besides three others. The KXIP has been in thick of controversy recently, with Central Excise Department here slapping notice on it seeking payment of service tax of Rs 5.38 crore. Punjab Excise and Taxation Department had also last week issued a notice to the franchise in connection with the outstanding entertainment duty for IPL III. Besides the local Central Excise department has also sought details from five cricket players, including Yuvraj Singh, to furnish details regarding total payment they received from their team owner Kings XI Punjab in IPL to levy service tax. The other players from whom information has been sought are Uday Kaul, Sunny Sohal, VRV Singh and Rishi Dhawan playing for Kings XI Punjab as these players''addresses fall under the jurisdiction of Central Excise Department, Chandigarh. The department has demanded copy of agreements signed by players with their franchise owner and the total payment received by them. In the complaint, the RoC had alleged that the Mohali franchise had not filed any annual return and balance sheet since its inception in March 2008.

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