https://www.taxtmi.com/caselaws?id=393316 The court held that provisional attachment of property under PMLA ceases to exist after the prescribed 90 or 365 days, benefiting appellants not accused in the pending investigation. Property acquired pre-PMLA can be attached only if equivalent to crime proceeds held abroad. "Value of such property" in "proceeds of crime" refers to crime-linked property only. Specific reasons, not mere statutory wording, must justify provisional attachment. The court allowed the appeals, setting aside the Tribunal's order and emphasizing the importance of following legal requirements for property attachment. en-us Fri, 06 Mar 2020 00:00:00 +0530 Sat, 21 Nov 2020 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393316 The court held that provisional attachment of property under PMLA ceases to exist after the prescribed 90 or 365 days, benefiting appellants not accused in the pending investigation. Property acquired pre-PMLA can be attached only if equivalent to crime proceeds held abroad. "Value of such property" in "proceeds of crime" refers to crime-linked property only. Specific reasons, not mere statutory wording, must justify provisional attachment. The court allowed the appeals, setting aside the Tribunal's order and emphasizing the importance of following legal requirements for property attachment. Case-Laws Money Laundering Fri, 06 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393316