https://www.taxtmi.com/caselaws?id=361657 Provisional attachment under the Prevention of Money Laundering Act, 2002 was examined in light of an acquittal in the scheduled offence, with the Tribunal noting that the attachment rested on the same allegations and no independent material had been properly assessed. It concluded that once the scheduled offence failed on merits and no appeal was shown against the acquittal, the basis for treating the properties as proceeds of crime did not survive. The Tribunal also noted arguments on the amended section 8(3)(b), but treated the acquittal as the decisive factor and held that the amendment did not save the attachment. The attached properties were directed to be released. en-us Wed, 06 Jun 2018 00:00:00 +0530 Fri, 09 Sep 2022 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361657 Provisional attachment under the Prevention of Money Laundering Act, 2002 was examined in light of an acquittal in the scheduled offence, with the Tribunal noting that the attachment rested on the same allegations and no independent material had been properly assessed. It concluded that once the scheduled offence failed on merits and no appeal was shown against the acquittal, the basis for treating the properties as proceeds of crime did not survive. The Tribunal also noted arguments on the amended section 8(3)(b), but treated the acquittal as the decisive factor and held that the amendment did not save the attachment. The attached properties were directed to be released. Case-Laws Money Laundering Wed, 06 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361657