https://www.taxtmi.com/caselaws?id=360428 A third party's property cannot be provisionally attached under the Prevention of Money Laundering Act unless the authority records material-based reasons to believe that the property itself represents or is linked to proceeds of crime and is likely to be concealed or dealt with to frustrate confiscation. Here, the property had been acquired long before the alleged offence, the record did not show a direct nexus with tainted funds, and the affected owner was neither an accused nor shown to have knowledge of any illicit source. The attachment was also made without notice or hearing, contrary to the statutory safeguard and natural justice. The attachment was set aside and the property released. en-us Fri, 11 May 2018 00:00:00 +0530 Thu, 17 May 2018 05:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360428 A third party's property cannot be provisionally attached under the Prevention of Money Laundering Act unless the authority records material-based reasons to believe that the property itself represents or is linked to proceeds of crime and is likely to be concealed or dealt with to frustrate confiscation. Here, the property had been acquired long before the alleged offence, the record did not show a direct nexus with tainted funds, and the affected owner was neither an accused nor shown to have knowledge of any illicit source. The attachment was also made without notice or hearing, contrary to the statutory safeguard and natural justice. The attachment was set aside and the property released. Case-Laws Money Laundering Fri, 11 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360428