I-T issues notices to Knight Riders, Gameplan

Knight Riders and Gameplan have asked for time till Monday for appearing before the IT department. 'Poorna leaked no e-mail' | IPL controversy | List of shareholders in IPL teams | I-T raid party rocks IPL | BCCI bigwigs not to attend IPL awards

By PTI | Apr 23, 2010, 03.09 PM IST

KOLKATA: The income tax department has issued notices to Knight Riders Sports Private Limited and Gameplan Sports to appear before it in connection with the recent search operations at the offices of the two entities.

"We have issued notices to both Knight Rider Sports and Gameplan," Director General of I-T investigation (East) Vinod Khurana told PTI.

He said the two entities had asked for time till Monday for appearing before the IT department.

Asked whether the I-T sleuths had stumbled across any irregularities so far, Khurana said that the officials were still examining papers.

He said the Kolkata I-T office would only look into details like corporate endorsements, ticket receipts and the various heads under which expenditure was incurred and reflected in the books of the two companies.

Khurana said that the I-T office would also investigate whether TDS was made on payment made to CAB by KR Sports, which owns the KKR team.

The official said that since KR Sports was based in Mumbai, I-T Mumbai would look into the funding and shareholding pattern of KR Sports.

He said that it was not necessary that officials of the two companies would have to appear in person. "They can send their legal counsel also."

I-T officials had conducted a search and survey operation in the city offices of KR Sports and Gameplan on Wednesday.

Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.