Chandigarh: Income tax officer sentenced to 6-yr jail in assets case
Jagjit Singh, Special Judge, CBI court, has sentenced a former income tax officer to undergo six years of rigorous imprisonment (RI) in a disproportionate assets case registered in 2013.
The court has also imposed a fine of Rs 5 lakh on the convict, Rakesh Jain. The court, however, acquitted his wife Suneet Jain in the case.
Despite the age, character, antecedents, and family circumstances stated by the convict, he does not deserve any leniency, as prayed for. The convict, rather, deserves a punishment which would act as a deterrent so that people think twice before committing such an offense,” said the court in the order.
The court has also directed to confiscate the case property with the state.
The case was registered under Sections 13 (2) read with 13 (1) (e) of the Prevention of Corruption Act after the CBI recovered three gold bars (1 kg each), many documents pertaining to investment in shares, Rs 23 lakh in cash and other items from the Jain’s residence and lockers.
The raids were conducted after the CBI caught the accused red-handed while receiving a bribe of Rs 50,000 from a businessman in Sector 20, Chandigarh, on February 6, 2013. According to the CBI, Jain had allegedly demanded Rs 3.5 lakh from the complainant to sort out a matter and the deal was finalised for Rs 2.5 lakh.
In the chargesheet, the CBI alleged that the total assets recovered from the accused were found to be 125 percent more than his known sources of income.
The case was registered under Sections 13 (2) read with 13 (1) (e) of the Prevention of Corruption Act after the CBI recovered three gold bars (1 kg each), many documents pertaining to investment in shares, Rs 23 lakh in cash and other items from the Jain’s residence and lockers.
The raids were conducted after the CBI caught the accused red-handed while receiving a bribe of Rs 50,000 from a businessman in Sector 20, Chandigarh, on February 6, 2013. According to the CBI, Jain had allegedly demanded Rs 3.5 lakh from the complainant to sort out a matter and the deal was finalised for Rs 2.5 lakh.
In the chargesheet, the CBI alleged that the total assets recovered from the accused were found to be 125 per cent more than his known sources of income.
Public prosecutor Narender Singh argued said the accused, while serving in the Income Tax Department from July 20, 1995, to February 5, 2013, amassed assets worth Rs 1,09,68,415 disproportionate to his known sources of income. He also said taking a lenient view against him would send a wrong message to the society.
After hearing of the arguments, the CBI court convicted Jain and a warded him six years of RI.
Caught red-handed
The CBI caught the accused, Rakesh Jain, red-handed while receiving a bribe of Rs 50,000 from a businessman in Sector 20, Chandigarh, on February 6, 2013. The CBI claimed that Jain had allegedly demanded Rs 3.5 lakh from the complainant to sort out a matter and the deal was finalised for Rs 2.5 lakh.