Reverse charge and assignment of royalty collection: exemption for excess royalty collectors subject to reconciliation; leaseholders remain liable und...
Authorization requirements for customs brokers and benami shipping bills: tribunal upholds licence revocation and penalties after COVID time limit fou...
Eligibility for notification exemption on imported fertilizers challenged; penalty, interest and confiscation set aside after voluntary payment and no...
Frozen bank accounts cannot be retained under the PMLA unless foundational facts first show the existence of proceeds of crime and the account holder's link with the alleged laundering activity. The Tribunal found no material that the frozen funds were proceeds of crime or that the appellant was named in, or connected to, the predicate copyright offence; assertions of relationship, investment, or online betting were insufficient, and the burden could not shift on the Directorate's bare claim. It also held that continued freezing could not rest merely on an ongoing investigation without a reasoned finding that the property was involved in money-laundering. The retention order was therefore set aside.
Frozen bank accounts cannot be retained under the PMLA unless foundational facts first show the existence of proceeds of crime and the account holder's link with the alleged laundering activity. The Tribunal found no material that the frozen funds were proceeds of crime or that the appellant was named in, or connected to, the predicate copyright offence; assertions of relationship, investment, or online betting were insufficient, and the burden could not shift on the Directorate's bare claim. It also held that continued freezing could not rest merely on an ongoing investigation without a reasoned finding that the property was involved in money-laundering. The retention order was therefore set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4827 
Join Channel 
