Mumbai: Enforcement Directorate makes another arrest in ₹263 crore tax refund fraud case
₹263 crore income tax refund fraud and money laundering case. The accused, Purshottam Chavan, was arrested on May 20 following a raid on his premises in Mumbai.
According to PTI, the ED has secured his custody until May 27.Also Read | Mercedes-Maybach GLS 600 4MATIC SUV and AMG S 63 E Performance Edition 1 sedan launched in India: DetailsThe case involves the alleged fraudulent generation and issuance of Tax Deducted at Source (TDS) refunds totalling ₹263.95 crore by the Income-tax department. The ED's money laundering investigation is based on a Central Bureau of Investigation FIR.Also Read | Mint Quick Edit | Kashmir's Lok Sabha poll turnout is a good signAccording to the ED, Chavan attempted to obstruct the investigation by destroying evidence crucial for tracing the proceeds of crime.
During the raid, ED officials seized property documents, foreign currency, and mobile phones from Chavan's residence.Also Read | Audi Q7 Bold Edition SUV launched in India, starting at ₹97.84 lakh: All detailsChavan's arrest marks the fifth arrest in the case. The ED previously arrested Tanaji Mandal Adhikari, Bhushan Patil, Rajesh Shetty, and Rajesh Brijlal Batreja, who are also accused in the case.
Also Read | AAP to be named co-accused in Delhi excise policy money laundering case: ED tells Supreme CourtThe ED alleged that Batreja and Chavan were in regular contact, exchanging incriminating messages related to hawala transactions and the diversion of crime proceeds.Also Read | Motorola Edge 50 Fusion launched in India with Snapdragon 7s Gen 2 chipset: Price, specifications and moreThus far, assets worth ₹168 crore belonging to various accused have been attached. In September 2023, the ED filed a charge sheet against Adhikari and ten
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