Home / News / India /  TDS refund case: ED attaches properties worth 69 cr, includes luxury car like BMW X7, Mercedes GLS400d

The Enforcement Directorate (ED) attached properties worth 69.65 crore at various locations in Maharashtra and Karnataka under the anti-money laundering law in connection with a refund fraud allegedly perpetrated by an Income Tax department official, the federal agency said on Friday. 

Senior Tax assistant Tanaji Mandal Adhikari and others allegedly issued total TDS refunds of 263 crore from the IT department to personal bank accounts in an unauthorized manner, according to the news agency PTI. 

In Maharashtra, the ED has attached land at Khandala, Karjat, Lonavala, Mumbai, and Pune, while in Karnataka, Udupi flats at Panvel and three luxury cars -- BMW X7, Mercedes GLS400d and Audi Q7. These assets were held in the name of Bhushan Anant Patil, Rajesh Shetty, Sarika Shetty, Kriti Verma under sections of the Prevention of Money Laundering Act. 

The federal agency, in an official statement, said that these 32 assets in total were acquired from the proceeds of crime by the accused in their names and in the names of other related persons. The assets are worth 69,65,99,720.

According to the ED, Adhikari had access to RSA tokens and the log-in credentials of his supervisory authorities. 

"Adhikari allegedly orchestrated the fraud in connivance with others in fraudulently generating TDS refunds exceeding 263 crore and transferred it to various bank accounts, including the bank account of SB Enterprises (a proprietary concern of Bhushan Anant Patil)", the statement read. 

It added that a total of 12 fraudulent TDS refunds were generated by Adhikari between November 15, 2019 and November 4, 2020. 

The federal agency had conducted search operations and identified the entire sale proceeds amounting to 1.18 crore in her bank accounts and frozen, the statement added as quoted by PTI. 

The ED had earlier attached properties worth more than 96.25 crore in the case. With the fresh action, the total attachment in the case now stands at about 166 crore.


(With PTI inputs)

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