https://www.taxtmi.com/caselaws?id=402304 The court denied the petitioner's anticipatory bail application in a money laundering case due to specific allegations of acquiring properties worth Rs. 80 lakhs from crime proceeds. Despite claims of legitimate ancestral property and post-marriage acquisitions supported by tax returns, discrepancies in income declarations and cash deposits raised doubts. The court noted funds flow from the accused's relatives for property purchases, leading to the rejection of bail based on lack of credibility in explanations and perceived connection to illicit proceeds. Transparency and accountability in financial dealings were emphasized in combating money laundering. en-us Thu, 08 Oct 2020 00:00:00 +0530 Tue, 29 Dec 2020 10:04:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402304 The court denied the petitioner's anticipatory bail application in a money laundering case due to specific allegations of acquiring properties worth Rs. 80 lakhs from crime proceeds. Despite claims of legitimate ancestral property and post-marriage acquisitions supported by tax returns, discrepancies in income declarations and cash deposits raised doubts. The court noted funds flow from the accused's relatives for property purchases, leading to the rejection of bail based on lack of credibility in explanations and perceived connection to illicit proceeds. Transparency and accountability in financial dealings were emphasized in combating money laundering. Case-Laws Money Laundering Thu, 08 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402304