Prasad was posted in Mumbai as an I-T commissioner (Appeals-30) and is accused of seeking the bribe for passing an order in favour of a firm.

A team of CBI officials is currently investigating his properties. The investigation agency suspects that the cash seized from the officials was part of Rs 2 crore bribe, which he had sought from a Mumbai-based firm’s owner.Prasad, who was on leave, was arrested in Visakhapatnam and was brought to Mumbai on Wednesday.

The Central Bureau of Investigation (CBI) arrested Income Tax (IT) commissioner B.Prasad is an Indian Revenue Service of the 1992 batch and had shifted to Mumbai two years ago.50 crore was also recovered.”The sources further added, “The CBI officials, who have been closely monitoring the activity of the commissioner, laid a trap and caught him while receiving the part of the bribe from the real estate agent. All the six arrested accused were brought to Mumbai on Wednesday for questioning. He had gone to his hometown Visakhapatnam, to collect the bribe, which was handed over to him by the middleman. Both, the commissioner and the agent were arrested.5 crore from him.  

Apart from Prasad, the middleman, who is a Visakhapatnam-based real estate agent was also arrested.B.Sources said, “The commissioner of I-T visited Visakhapatnam and allegedly asked the real estate agent to deliver part of the money at his residence in Visakhapatnam.b.The CBI also nabbed four others including Pradeep Mital, a senior officer of Essar company, the firm’s accounts officer, its chartered Melamine resins manufacturers accountant and the real-estate agent’s relative.” The raids were conducted in the residence and offices of the accused in Mumbai and Visakhapatnam, which led to the recovery of several property documents, details of bank accounts, three lockers and several incriminating documents. According to CBI officials, Prasad allegedly passed an order in an appeal matter favouring a private Trust and demanded a bribe of Rs 2 crore.