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The AT dismissed appeals challenging provisional attachment orders under PMLA, 2002 involving illegal foreign remittances to Hong Kong through fraudulent import documents. Despite appellants providing detailed explanations for acquisition sources of attached vehicles, the tribunal held that properties can be attached as "value" of proceeds of crime even when acquired from explained sources, if direct proceeds are dissipated or unavailable. The court emphasized that "proceeds of crime" encompasses both direct proceeds and equivalent value from scheduled offences. With prosecution complaints pending and evidence including witness statements, forensic mobile phone examination, and incriminating communications, the tribunal found sufficient grounds for continued attachment. The provisional attachment does not disturb ownership title or deprive possession rights during pending criminal proceedings.
The AT dismissed appeals challenging provisional attachment orders under PMLA, 2002 involving illegal foreign remittances to Hong Kong through fraudulent import documents. Despite appellants providing detailed explanations for acquisition sources of attached vehicles, the tribunal held that properties can be attached as "value" of proceeds of crime even when acquired from explained sources, if direct proceeds are dissipated or unavailable. The court emphasized that "proceeds of crime" encompasses both direct proceeds and equivalent value from scheduled offences. With prosecution complaints pending and evidence including witness statements, forensic mobile phone examination, and incriminating communications, the tribunal found sufficient grounds for continued attachment. The provisional attachment does not disturb ownership title or deprive possession rights during pending criminal proceedings.
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TaxTMI 
TaxTMI 
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