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CBI arrests additional income tax officer for graft

CBI arrests additional income tax officer for graft
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First Published: Tue, Aug 30 2011. 07 12 PM IST
Updated: Tue, Aug 30 2011. 07 12 PM IST
The Central Bureau of Investigation (CBI) has arrested Chennai’s additional commissioner of income tax Andasu Ravinder and two private persons in a bribery case of Rs 50 lakh, the agency said on Tuesday.
“It was alleged that on 4 August, the additional commissioner organized search and survey proceedings under Income Tax Act in the premises of a Chennai-based private educational firm. The educational firm provides in-school education through Internet and V-SAT. While conducting the search and survey proceedings, he also visited the premises of the firm,” the agency said in a press statement.
“The search and survey proceedings revealed that the managing director of the firm had concealed taxable income to the tune of Rs116 crores. After the detection of huge taxable income, the managing director of firm contacted the additional commissioner through a chartered accountant to reduce the income tax liability. After holding negotiations, he requested the additional commissioner to suppress Rs 60 crores of taxable income out of Rs.116 crores detected by the search and survey,” the agency added.
According to the agency, the accused demanded Rs 50 lakh as bribe to settle the issue.
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First Published: Tue, Aug 30 2011. 07 12 PM IST