The AT dismissed the appeal and upheld the provisional attachment orders. The Tribunal found the appellants failed to disclose the source of funds for property acquisitions, discredited their witness-statements and uncorroborated explanations, and determined agricultural receipts and firm income could not account for the purchases. The AT accepted the enforcement analysis of declared income and banking transactions, including use of third-party accounts to funnel cash, and concluded proceeds of crime were either not traceable or vanished; accordingly, properties of equivalent value, including some acquired prior to the predicate acts, were lawfully provisionally attached as "proceeds of crime." The challenge to linkage with the alleged predicate offence and related notifications was rejected. Appeal dismissed.
The AT dismissed the appeal and upheld the provisional attachment orders. The Tribunal found the appellants failed to disclose the source of funds for property acquisitions, discredited their witness-statements and uncorroborated explanations, and determined agricultural receipts and firm income could not account for the purchases. The AT accepted the enforcement analysis of declared income and banking transactions, including use of third-party accounts to funnel cash, and concluded proceeds of crime were either not traceable or vanished; accordingly, properties of equivalent value, including some acquired prior to the predicate acts, were lawfully provisionally attached as "proceeds of crime." The challenge to linkage with the alleged predicate offence and related notifications was rejected. Appeal dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
