https://www.taxtmi.com/caselaws?id=299141 Under the Prevention of Money-Laundering Act, provisional attachment can continue only while there is a valid foundation to treat property as proceeds of crime derived from scheduled criminal activity. The Tribunal noted that the statutory definition of proceeds of crime depends on the existence of such criminal activity, and that section 8(5), as then in force, provided for cessation of attachment where the scheduled-offence trial ends in acquittal. As the acquittals in the linked criminal cases had attained finality, the basis for attachment no longer survived, and the property was ordered to be released from attachment. en-us Wed, 31 Dec 2014 00:00:00 +0530 Sun, 05 Dec 2021 14:39:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299141 Under the Prevention of Money-Laundering Act, provisional attachment can continue only while there is a valid foundation to treat property as proceeds of crime derived from scheduled criminal activity. The Tribunal noted that the statutory definition of proceeds of crime depends on the existence of such criminal activity, and that section 8(5), as then in force, provided for cessation of attachment where the scheduled-offence trial ends in acquittal. As the acquittals in the linked criminal cases had attained finality, the basis for attachment no longer survived, and the property was ordered to be released from attachment. Case-Laws Money Laundering Wed, 31 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299141