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ED’s Fifth Arrest in I-T Refund Fraud Case

The Enforcement Directorate (ED) has made its fifth arrest in connection with a ₹263 crore income tax refund fraud case involving money laundering. Purshottam Chavan was arrested on May 20, following raids on his premises in Mumbai. The investigation revolves around the alleged fraudulent generation and issuance of TDS refunds amounting to ₹263.95 crore.

Chavan is accused of attempting to obstruct the investigation by destroying evidence. The ED has already arrested four others in this case, including the main accused Tanaji Mandal Adhikari. Assets worth ₹168 crore have been attached, and a charge sheet was filed against Adhikari and ten others in September 2023.