https://www.taxtmi.com/caselaws?id=374084 Amounts received through banking channels under a written land-aggregation arrangement were treated as legitimate business advances, not proceeds of crime, because no material linked the funds to any scheduled offence or money laundering. The Tribunal noted that income-tax proceedings had also characterised the receipts as business advances, and a consent decree recognised the obligation to return the advances and hand over the properties acquired from them. On that basis, provisional attachment under PMLA, and its confirmation, lacked the necessary proceeds-of-crime nexus and could not be sustained. en-us Thu, 17 Jan 2019 00:00:00 +0530 Fri, 25 Jan 2019 09:04:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374084 Amounts received through banking channels under a written land-aggregation arrangement were treated as legitimate business advances, not proceeds of crime, because no material linked the funds to any scheduled offence or money laundering. The Tribunal noted that income-tax proceedings had also characterised the receipts as business advances, and a consent decree recognised the obligation to return the advances and hand over the properties acquired from them. On that basis, provisional attachment under PMLA, and its confirmation, lacked the necessary proceeds-of-crime nexus and could not be sustained. Case-Laws Money Laundering Thu, 17 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374084