FIVE YEARS RIGOROUS IMPRISONMENT WITH FINE OF RS.SIX LAKHS TO THEN ASSISTANT DIRECTOR OF INCOME TAX (IRS – 2001) IN A DISPROPORTIONATE ASSETS CASE
The Special Judge for CBI Cases, Hyderabad has today convicted Sri A.Mallikarjuna Rao, (IRS-2001), then Assistant Director of Income Tax (Recovery), New Delhi in a Disproportionate Assets case and sentenced him to undergo five years Rigorous Imprisonment with fine for Rs.Six lakhs. The said accused is presently posted as Deputy Commissioner of Income Tax (DCIT) in the Office of CCIT, New Delhi.
CBI had registered a case against Sri A. Mallikarjuna Rao (IRS – 2001), the then Assistant Director of Income Tax (Recovery), New Delhi on 29.09.2006 on the allegations that Sri A. Mallikarjuna Rao was in possession of disproportionate assets. During investigation, searches were conducted at New Delhi, Hyderabad, Ananthapur which led to recovery of several incriminating documents relating to investments made by him in M/s Ashrita Textiles, establishment of M/s M&M Educational Society & documents pertaining to share business etc. It was further revealed that Sri A. Mallikarjuna Rao allegedly acquired immovable properties at various places in Andhra Pradesh as well as in the name of M/s M&M Educational Society represented by his brother. Sri Mallikarjuna Rao had amassed assets disproportionate to the tune of around Rs.72,87,592.72 (107.85%) in-between the period from September, 2001 & September, 2006. All these investments were allegedly made by him after joining IRS. On completion of investigation, charge sheet was filed on 31.01.2009 U/s 109 IPC r/w 13(2) r/w 13(1)(e) of PC Act, 1988.
The Trial Court found the accused guilty and convicted him.
CBI Press Release- New Delhi, 02.09.2015