Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
The AT upheld the Adjudicating Authority's order permitting retention of Rs. 65 lakhs seized from the appellant pending trial under the PMLA. The appellant failed to produce bank statements or credible documentation to substantiate the lawful source of the cash, including alleged savings of the appellant's wife. The appellant's own statement under Section 50 of the PMLA corroborated involvement in illegal arms licensing, a predicate offence under the Arms Act and Prevention of Corruption Act applicable post the abrogation of Jammu and Kashmir's special status. The appellant's failure to justify the seized amount and admissions of illegal activity justified continued seizure. The appeal was dismissed as the impugned order was found legally sound and not liable to interference.
The AT upheld the Adjudicating Authority's order permitting retention of Rs. 65 lakhs seized from the appellant pending trial under the PMLA. The appellant failed to produce bank statements or credible documentation to substantiate the lawful source of the cash, including alleged savings of the appellant's wife. The appellant's own statement under Section 50 of the PMLA corroborated involvement in illegal arms licensing, a predicate offence under the Arms Act and Prevention of Corruption Act applicable post the abrogation of Jammu and Kashmir's special status. The appellant's failure to justify the seized amount and admissions of illegal activity justified continued seizure. The appeal was dismissed as the impugned order was found legally sound and not liable to interference.
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