Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
The note addresses the scope of provisional attachment and confiscation under the PMLA, holding that property need not be held by an accused to be attachable if it is derived from or represents proceeds of crime; mere possession, joint or individual, suffices as a triggering circumstance. It explains the procedural burden under the notice regime to prove legitimate source under Section 8(1) is judged on the civil standard of preponderance of probabilities, and that documentary admissions and related convictions can sustain attachment where the person served fails to discharge that onus. The operative effect is continued provisional attachment where legitimate source is not demonstrated.
The note addresses the scope of provisional attachment and confiscation under the PMLA, holding that property need not be held by an accused to be attachable if it is derived from or represents proceeds of crime; mere possession, joint or individual, suffices as a triggering circumstance. It explains the procedural burden under the notice regime to prove legitimate source under Section 8(1) is judged on the civil standard of preponderance of probabilities, and that documentary admissions and related convictions can sustain attachment where the person served fails to discharge that onus. The operative effect is continued provisional attachment where legitimate source is not demonstrated.
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