The Special Judge for CBI cases, Delhi has sentenced S/Sh Ashutosh Verma then Deputy Director (Investigation) Income Tax, Delhi; Suresh Nanda (private person) and Bipin Shah (Chartered Accountant), all to undergo one year Rigorous Imprisonment with fine of Rs. one lakh each in a CBI case.
CBI had registered a case on 08.03.2008 against Shri Ashutosh Verma, Dy. Director,(Inv.) Income Tax and others including Suresh Nanda (private person), Bipin Shah on the allegations that the accused had entered into a conspiracy for manipulating the Appraisal report of Income Tax Investigation to show undue favor to Shri Suresh Nanda and his associates for obtaining pecuniary advantage. Investigation revealed that Shri Ashutosh Verma, the then DD (IT) had conducted searches at the premises of Shri Suresh Nanda & his associate companies on 27.02.2007. Shri Ashutosh Verma in a conspiracy with others including Shri Suresh Nanda & Shri Bipin Shah agreed to minimize the income tax liabilities and had several meetings with other accused in different hotels. It was further alleged that the Appraisal Report was submitted by Shri Ashutosh Verma to higher authorities on 04.03.2008. On 08.03.2008, the accused were intercepted by CBI while holding the meeting in a Hotel at Mumbai. It was also alleged that Sh. Suresh Nanda was associated with various companies dealing with defence equipments and Shri Bipin Shah (a Chartered Accountant) was also Director in some of the companies of Shri Suresh Nanda. It was also found that Shri Ashutosh Verma diluted the Appraisal Report to favour Shri Suresh Nanda and associates on the behest of Shri Bipin Shah.
After investigation, CBI filed a charge sheet on 30.11.2012 against the accused. Charges were framed on 11.01.2018.
The Trial Court found the said accused guilty and convicted them on 01.04.2021.