TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of AT adjudicated a money laundering case involving failure to file Cash Transaction Reports (CTRs) for interconnected transactions exceeding Rs. 10 lakhs monthly. The tribunal reduced penalties from initial assessments, imposing a consolidated penalty of Rs. 50,000 for non-reporting of 9 CTRs and an additional Rs. 10,000 for ineffective internal transaction monitoring mechanisms. The ruling affirmed contravention of PMLA Section 12(1)(b) and PML Rules, while adopting a relatively lenient approach by substantially mitigating the original penalty quantum. Appeal was disposed of with directed monetary penalties against the appellant bank.
TaxTMI 
TaxTMI 
