Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Unexplained cash deposits forming the basis of a provisional attachment were challenged as arbitrary and violative of natural justice. The appellant failed to provide a cogent, corroborated explanation for the cash kept at home and deposited in tranches, the need for multiple signatures on deposit slips, or the alleged contributions from relatives; the handwritten list lacked adequate identification details and the supporting affidavit was unsupported by source evidence. Given the mismatch between declared income and substantial cash deposits, the authority held that the origin and source of funds remained unproved, sustaining the finding that the attached assets were involved in money laundering, and dismissed the appeal. - AT
Unexplained cash deposits forming the basis of a provisional attachment were challenged as arbitrary and violative of natural justice. The appellant failed to provide a cogent, corroborated explanation for the cash kept at home and deposited in tranches, the need for multiple signatures on deposit slips, or the alleged contributions from relatives; the handwritten list lacked adequate identification details and the supporting affidavit was unsupported by source evidence. Given the mismatch between declared income and substantial cash deposits, the authority held that the origin and source of funds remained unproved, sustaining the finding that the attached assets were involved in money laundering, and dismissed the appeal. - AT
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