CBI books senior IT official for corruption

The Central Bureau of Investigation (CBI) has registered a case against a senior Income Tax department official here for allegedly amassing assets disproportionate to his known sources of income, an agency official said.

"The CBI has registered a case against M. Krishnaswamy, commissioner of income tax now posted as director (investigation), Settlement Commission here and eight others for possession of alleged disproportionate assets to the tune of around Rs.6.1 crore," said a CBI official, on the condition of anonymity, in Chennai.

The official said the agency sleuths conducted raids at 14 places in Chennai, temple town Palani and other places in Tamil Nadu and recovered some documents relating to property worth several crores of rupees, locker details, investments in shares, investments in a private firm and also investments in another company.

Krishnaswamy, a 1988 batch Indian Revenue Service (IRS) official, along with other eight accused, including his family members, have been booked under sections of the Prevention of Corruption Act.

The official said that other accused had allegedly abetted Krishnaswamy in the commission of the offence.

"It was further alleged that Krishnaswamy had acquired huge assets in the name of his immediate family members and other holders at Chennai and various other places in Tamil Nadu including at his native village near Palani," the official said.