Income-Tax department has issued summons to the BCCI to furnish complete details of all eight original franchisees.
After swooping down on offices of IPL franchisees and quizzing IPL Commissioner Lalit Modi for the second time in a week, the I-T department has demanded complete details of all eight original franchisees.
BCCI officials are expected to be present at the I-T office in Ballard Estate on Friday at 3 pm and the taxmen will then assess the documents comprising bidding details of the franchises, the balance sheets, income of franchises etc. If cricket board authorities do not show up at the I-T office they will be fined up to Rs 10,000.
Mumbai newspaper Mid Day has published a copy of the summons which were issued to the BCCI office by the Assistant Director of Income Tax. The 10 points mentioned in it are as follows:
>>Bidding documents of all the franchisees with respect to the eight IPL teams
>>Documents submitted by franchisees in support of their ownership/shareholding
>>Name and addresses of individuals/entities owning these franchises, their contract agreement with the IPL
>>Deposits, advances or any payment made by the franchise to the IPL/BCCI since its inception
>>Payment made to these franchises by IPL/BCCI in form of income/capital/payment etc
>>Balance sheet, profit and loss accounts, income and expenditure etc of the IPL, since its inception
>>Balance sheet, profit and loss of the BCCI indicating income/receipts from the IPL.
>>Explain the manner in which this income has been treated in the accounts.
>>Details of amount of any kind received from all the parties who had undertaken transactions with the IPL
>>Details of auction of each team with the conditions of payments, detail of payment made.
