The EC's decision came days after it had banned the two leaders from campaigning in Uttar Pradesh during the ongoing Lok Sabha elections.
While censuring the two, the EC also condemned their statements after going through their responses to the show cause notices issued to them.
The ban imposed on the two politicians will continue.
"Whereas, the Commission has considered the aforesaid reply dated April 11, 2014 carefully and has again seen the video recording of his (Khan's) impugned speeches and is convinced that he has made highly provocative speeches which have the impact of aggravating existing differences or create mutual hatred between different communities...
The poll body made similar observations against Shah in a separate order after going through his response.
Shah had landed in a major controversy for his remarks that the upcoming general election was an opportunity to seek "revenge for the insult" inflicted during the riots in Muzaffarnagar in Uttar Pradesh last year.
Khan, a UP Minister and a senior Samajwadi Party leader, had hit the headlines with his controversial statement that it was Muslim soldiers who had won the Kargil war for the country in 1999 and that no Hindu soldier had died.
The EC order took note of his remarks made in Ghaziabad and Rampur.
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