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Provisional attachment under the PMLA was sustained where investigators established a prima facie nexus between alleged proceeds of crime and conversion of demonetized currency into bullion and sale of jewellery, attracting the definition of proceeds of crime and prompting action under the Act; consequence: confirmation of attachment. The Tribunal affirmed that an undivided share in immovable property may be attached and physical divisibility or eviction is not required at the attachment stage; consequence: 50% attachment upheld. The claimant bears the burden to prove an attached portion is untainted and mere EMI payments or financial contribution without title do not establish ownership; consequence: impleadment and appeals dismissed.
Provisional attachment under the PMLA was sustained where investigators established a prima facie nexus between alleged proceeds of crime and conversion of demonetized currency into bullion and sale of jewellery, attracting the definition of proceeds of crime and prompting action under the Act; consequence: confirmation of attachment. The Tribunal affirmed that an undivided share in immovable property may be attached and physical divisibility or eviction is not required at the attachment stage; consequence: 50% attachment upheld. The claimant bears the burden to prove an attached portion is untainted and mere EMI payments or financial contribution without title do not establish ownership; consequence: impleadment and appeals dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
