https://www.taxtmi.com/caselaws?id=274625 Provisions of the Prevention of Money-Laundering Act, 2002 were upheld against constitutional challenge: the Court held that "proceeds of crime" is confined to property derived from a scheduled offence, Section 3 includes a knowledge element, and the scheme does not extend to innocent possession. Provisional attachment, adjudication and confiscation were sustained because the Act requires recorded reasons, notice, hearing and reasoned findings. The inclusion of specified IPC offences in the Schedule was treated as a valid legislative choice. The burden-shifting presumption and bail conditions were also upheld as rebuttable and procedurally regulated. Quashing of the ECIR was rejected, while the challenge under Section 50 was left open pending larger-bench consideration. en-us Tue, 29 Aug 2017 00:00:00 +0530 Sat, 25 Aug 2018 09:26:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274625 Provisions of the Prevention of Money-Laundering Act, 2002 were upheld against constitutional challenge: the Court held that "proceeds of crime" is confined to property derived from a scheduled offence, Section 3 includes a knowledge element, and the scheme does not extend to innocent possession. Provisional attachment, adjudication and confiscation were sustained because the Act requires recorded reasons, notice, hearing and reasoned findings. The inclusion of specified IPC offences in the Schedule was treated as a valid legislative choice. The burden-shifting presumption and bail conditions were also upheld as rebuttable and procedurally regulated. Quashing of the ECIR was rejected, while the challenge under Section 50 was left open pending larger-bench consideration. Case-Laws Money Laundering Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274625