A former high-ranking tax official last posted in Ludhiana has been sentenced to four years of rigorous imprisonment after the Central Bureau of Investigation (CBI) uncovered a fortune in “disproportionate assets” hidden across family bank accounts and property holdings.
A special corruption court in Mohali convicted Y K Saxena, a former assistant commissioner of income tax, on Friday by following a long-running CBI probe based on audit trail. The court, presided over by special judge Dinesh Kumar Wadhwa, heard that Saxena had accumulated wealth far exceeding his legal earnings during a career spanning 1979 to 2005.
Investigators from the CBI’s anti-corruption branch have revealed that Saxena’s unexplained assets totaled ₹86 lakh. The illicit wealth was not only held in his name but was funneled into accounts and assets belonging to his mother, wife, and children. A targeted raid on Saxena’s house during the investigation yielded immediate physical evidence of the graft, including ₹9 lakh in cash found on-site, and gold and jewellery valued at more than ₹6.4 lakh. Total recovery during the search was ₹15.4 lakh in liquid assets alone.
The court took a stern view of the breach of public trust by a senior official last posted in the industrial hub of Ludhiana. In addition to the four-year prison term, the judge imposed a fine of ₹13 lakh. Should Saxena default on this payment, he faces an additional six months of rigorous imprisonment.
The prosecution, led by public prosecutor Jai Hind Patel, successfully argued that the assets were acquired through corrupt practices during Saxena’s tenure as a public servant. The case was originally registered under the Prevention of Corruption Act, 1988, following a tip-off.
Source from: https://timesofindia.indiatimes.com/city/chandigarh/former-assistant-commissioner-of-income-tax-gets-four-year-jail-verdict-in-mohali-for-disproportionate-assets-/articleshowprint/129854095.cms
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