The Russian Premier League champions were ordered to close part of the Khimki Arena for their next Champions League home fixture with Bayern Munich after they were found guilty of racist chants towards Manchester City midfielder Yaya Toure.
But Slutskiy - whose side are set to battle Manuel Pellegrini's men in the reverse fixture at the Etihad Stadium on Tuesday - said he was unaware of any such incidents, reiterating the club's insistence that their supporters were not guilty of racist chants.
"We did not hear any racist slur so it is difficult to comment," he told reporters.
"The club is categorically against racism, but we think the situation has been exaggerated and that there has been an overreaction.
"We have received our punishment, it was up to Uefa."
CSKA head into the fixture with City having taken just three points from as many Group D fixtures and a loss in Manchester would all but end their hopes of reaching the round of 16.