https://www.taxtmi.com/caselaws?id=336604 Provisional attachment under Section 5(1) of the Prevention of Money-Laundering Act, 2002 is valid where the authorised officer has reason to believe, based on material in possession, that the property is involved in money-laundering; the court will not reappraise that assessment if the record shows sufficient supporting material. The tainted character of proceeds of crime is not lost on transfer to third parties, so a claim of bona fide purchase does not by itself defeat attachment and may instead be pursued before the adjudicating authority. Objections founded on Section 27 were rejected because that provision concerns the Appellate Tribunal, not the Adjudicating Authority, and the statutory notice and complaint procedure was held to be properly followed. en-us Tue, 20 Dec 2016 00:00:00 +0530 Sat, 24 Dec 2016 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336604 Provisional attachment under Section 5(1) of the Prevention of Money-Laundering Act, 2002 is valid where the authorised officer has reason to believe, based on material in possession, that the property is involved in money-laundering; the court will not reappraise that assessment if the record shows sufficient supporting material. The tainted character of proceeds of crime is not lost on transfer to third parties, so a claim of bona fide purchase does not by itself defeat attachment and may instead be pursued before the adjudicating authority. Objections founded on Section 27 were rejected because that provision concerns the Appellate Tribunal, not the Adjudicating Authority, and the statutory notice and complaint procedure was held to be properly followed. Case-Laws Money Laundering Tue, 20 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336604