Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Money laundering - scheduled offences or not - proceeds of crime - offences under various sections of the Income-tax Act, 1961, in conjunction with sections of the Indian Penal Code, 1860 (IPC) - The Supreme Court reiterated that the existence of a scheduled offence is a prerequisite for establishing proceeds of crime under the PMLA. Since the offences alleged in the complaint did not qualify as scheduled offences, the Court ruled out the presence of proceeds of crime and consequently, the applicability of Section 3 of the PMLA.
Money laundering - scheduled offences or not - proceeds of crime - offences under various sections of the Income-tax Act, 1961, in conjunction with sections of the Indian Penal Code, 1860 (IPC) - The Supreme Court reiterated that the existence of a scheduled offence is a prerequisite for establishing proceeds of crime under the PMLA. Since the offences alleged in the complaint did not qualify as scheduled offences, the Court ruled out the presence of proceeds of crime and consequently, the applicability of Section 3 of the PMLA.
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