https://www.taxtmi.com/caselaws?id=374147 Funds advanced under a documented commercial land-aggregation arrangement, and assets traced to those advances, were treated as not constituting proceeds of crime because the record showed clean, book-recorded business funds with no established layering or laundering nexus. The Tribunal also found that attachment could not extend retrospectively to advances made before the underlying corruption offence became a scheduled offence under PMLA on 01.06.2009, to that extent offending the bar against ex post facto penal application. The consent decree and income-tax appellate findings further weakened the Enforcement Directorate's basis for attachment. The appeals were allowed and the attachment orders were set aside, with release or refund of the attached assets and amounts. en-us Thu, 17 Jan 2019 00:00:00 +0530 Fri, 25 Jan 2019 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374147 Funds advanced under a documented commercial land-aggregation arrangement, and assets traced to those advances, were treated as not constituting proceeds of crime because the record showed clean, book-recorded business funds with no established layering or laundering nexus. The Tribunal also found that attachment could not extend retrospectively to advances made before the underlying corruption offence became a scheduled offence under PMLA on 01.06.2009, to that extent offending the bar against ex post facto penal application. The consent decree and income-tax appellate findings further weakened the Enforcement Directorate's basis for attachment. The appeals were allowed and the attachment orders were set aside, with release or refund of the attached assets and amounts. Case-Laws Money Laundering Thu, 17 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374147