ED arrests one more in 263 crore income tax refund fraud case in Mumbai
Assets worth Rs 168 crore have been seized in this case so far : ED
New Delhi, May 23
The Enforcement Directorate (ED) arrested one person in connection with a Rs 263 crore income tax refund fraud case in Mumbai.
The person was identified as Purshottam Chavan who was held under the provisions of the Prevention of Money Laundering Act (2002).
The ED had earlier arrested four persons, namely Tanaji Mandal Adhikari, Bhushan Patil and Rajesh Shetty, in connection with the case.
The ED initiated an investigation on the basis of an FIR registered by the Central Bureau of Investigation against Tanaji Mandal Adhikari and others, for fraudulently generating and issuing tax deduction at source (TDS) refunds from the Income Tax Department to the tune of Rs. 263.95 crore.
The ED investigation revealed that Rajesh Brijlal Batreja and Purshottam Chavan were in touch and shared incriminating messages related to hawala transactions and diversion of proceeds of crime regularly.
The agency also conduced a search operation was also conducted on May 19 at Purshottam Chavan's residence, and several property documents, foreign currency and mobile phones were seized.
