Formula E Race case on Income Tax Dept radar

In a new twist to the ongoing investigations into the Formula E Race case, sources revealed that the Income Tax Department might step in to probe the alleged financial irregularities.
Sources suggest that TDS (Tax Deducted at Source) was not deducted for the Rs 55 crore transaction under scrutiny, raising serious tax compliance concerns.
The Income Tax Department has reportedly written to the state government seeking detailed records of the transactions connected to the event. This comes as the Enforcement Directorate (ED) and the Anti-Corruption Bureau (ACB) are investigating the matter.
With the Income Tax Department’s potential involvement, another Central agency has now entered the radar. This development could open up additional layers of inquiry into the financial dealings of the event and its organizers.