https://www.taxtmi.com/caselaws?id=346953 Property received through a bona fide commercial sponsorship agreement for promotional services, paid by cheque in the ordinary course of business, was not treated as proceeds of crime under the PMLA. The amount in the appellant's bank account was used for club running expenses, player payments and administrative costs, and the record did not show retention, diversion, concealment, knowledge of illegal source, or direct or indirect involvement in laundering. On those facts, the bank balance lacked the necessary nexus to the scheduled offence and was not liable to provisional attachment or confirmation; the attachment was set aside. en-us Tue, 28 Feb 2017 00:00:00 +0530 Mon, 21 Aug 2017 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346953 Property received through a bona fide commercial sponsorship agreement for promotional services, paid by cheque in the ordinary course of business, was not treated as proceeds of crime under the PMLA. The amount in the appellant's bank account was used for club running expenses, player payments and administrative costs, and the record did not show retention, diversion, concealment, knowledge of illegal source, or direct or indirect involvement in laundering. On those facts, the bank balance lacked the necessary nexus to the scheduled offence and was not liable to provisional attachment or confirmation; the attachment was set aside. Case-Laws Money Laundering Tue, 28 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346953