Real are keen to wrap up a possible world-record deal for the 24-year-old before the start of the season and Ancelotti revealed talks were underway earlier in the week.
When asked if he felt Ancelotti was in the wrong, Villas-Boas said: "I think so, in my opinion.
"Carlo is a person I appreciate a lot and we have great respect for each other, but bearing in mind this situation they have decided to make it public.
"Normally in situations like this it is scrutinised by the Football Association with lots of care and attention. We have seen lots of people speak about a player that is not theirs and we are due some respect.
"These rumours of an imminent transfer are not true. The only thing we have communicated with Real Madrid is that he is our player and he is not for sale.
"We are building a great team for next season. We envisage the future with Gareth. But we know that in football anything is possible."