The Income Tax (IT) department, probing alleged financial irregularities in the cash-rich IPL, is likely to investigate the assets of its high-profile commissioner Lalit Modi and his close associates including their financial interests abroad.

“There are so many shady transactions under the scanner. We will widen our inquiry into Lalit Modi’s transactions, interests abroad including those of his close associates,” an IT official said.

Stating that there has been an “awesome” growth in Modi’s assets during the last three years, he said the investigators will delve deep into his sources of income.

According to information available with I-T department, Modi made advance tax payment of little over Rs 19 lakh in 2007 which went up to Rs 2.5 crore in 2008, when IPL’s first edition was launched.

In 2009, when IPL shifted to South Africa, Modi paid just Rs 32 lakh as advance tax and this year it shot up to Rs 11 crore.

“We will look into matters like why he not pay any tax in 2006 and 2007 did and also reasons for the huge difference in paying advance tax in the last three years,” the official said.

Stating that there have been allegations of Modi’s involvement in betting, ‘benami’ stakes in many IPL franchises and money laundering, the official said the I-Tdepartment will probe matters under its jurisdiction.

“Now the investigation is directly under the control of the I-T headquarters, which means that major actions can be expected anytime,” the official said.

The entire structure of the revenue-rich IPL is under I-T scanner and the department has issued summons to BCCI seeking details of the shareholding pattern of all the 10 franchises, player auction and bidding process since the launch of the first edition of the league in 2008.

The BCCI has been asked to send its representative to appear before I-T authorities on April 23.

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September 2021