The Enforcement Directorate (ED) on Friday arrested three persons, including a former Income Tax (I-T) official, Tanaji Mandal Adhikari, in connection with its money laundering probe into alleged fraudulent issuance of Tax Deducted at Source (TDS) refund of Rs.263 crore from the I-T department. These proceeds of crime were subsequently transferred into the bank accounts of accused persons, persons related to them and shell companies, officials said. They said that the beneficiary firm had given details of its current account with a public-sector bank in its ITR. Later in July 2021, this additional savings bank account was removed from the I-T department’s system, they added. of Experience in Indirect Taxation – GST, Service Tax, Excise, Customs, VAT/CST, FTP, DGFT matters etc.

Source: Hindustan Times July 16, 2023 04:40 UTC