https://www.taxtmi.com/caselaws?id=361514 Provisional attachment under the Prevention of Money Laundering Act could not be sustained where the scheduled offence ended in acquittal on merits and no independent material showed a distinct laundering offence. The Tribunal found that the predicate prosecution had failed, the allegations underlying the enforcement complaint were the same, and the attached properties could not continue to be treated as proceeds of crime. It also held that the amendment governing continuation of attachment was prospective and did not rescue the impugned action. The attachment, confirming adjudication, and related proceedings were set aside, with release of the attached properties directed. en-us Wed, 06 Jun 2018 00:00:00 +0530 Fri, 08 Jun 2018 08:13:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361514 Provisional attachment under the Prevention of Money Laundering Act could not be sustained where the scheduled offence ended in acquittal on merits and no independent material showed a distinct laundering offence. The Tribunal found that the predicate prosecution had failed, the allegations underlying the enforcement complaint were the same, and the attached properties could not continue to be treated as proceeds of crime. It also held that the amendment governing continuation of attachment was prospective and did not rescue the impugned action. The attachment, confirming adjudication, and related proceedings were set aside, with release of the attached properties directed. Case-Laws Money Laundering Wed, 06 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361514