Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
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Properties treated as proceeds of crime remained attachable where the appellants failed to prove acquisition from independent lawful sources or payment of consideration. The Appellate Tribunal found that the respondent had established the foundational case that the assets originally stood with M/s AGFVIL and were later transferred through intermediary, namesake transactions without supporting proof of genuine purchase. For one appellant, the record showed only a shifted name without documentary evidence of consideration; for another, alleged loans, seller payment, and bank trail were not substantiated; for the third, the later explanation of source was inconsistent with her own statement and unsupported by material. The confirmation of the provisional attachment was upheld.
Properties treated as proceeds of crime remained attachable where the appellants failed to prove acquisition from independent lawful sources or payment of consideration. The Appellate Tribunal found that the respondent had established the foundational case that the assets originally stood with M/s AGFVIL and were later transferred through intermediary, namesake transactions without supporting proof of genuine purchase. For one appellant, the record showed only a shifted name without documentary evidence of consideration; for another, alleged loans, seller payment, and bank trail were not substantiated; for the third, the later explanation of source was inconsistent with her own statement and unsupported by material. The confirmation of the provisional attachment was upheld.
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