https://www.taxtmi.com/caselaws?id=421326 Liability under Section 3 of the PMLA arises only where a person is knowingly involved in dealing with proceeds of crime and conceals, possesses, acquires, uses, or projects them as untainted property. On the complaint materials, the petitioner had only paid consideration for the property and was, at most, a purchaser from a person lacking title; the record did not show that he generated proceeds of crime or projected such property as untainted. The Madras HC therefore found the essential ingredients of the offence absent against him and quashed the prosecution, while permitting the case to continue against the remaining accused. en-us Mon, 14 Mar 2022 00:00:00 +0530 Fri, 22 Apr 2022 08:25:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421326 Liability under Section 3 of the PMLA arises only where a person is knowingly involved in dealing with proceeds of crime and conceals, possesses, acquires, uses, or projects them as untainted property. On the complaint materials, the petitioner had only paid consideration for the property and was, at most, a purchaser from a person lacking title; the record did not show that he generated proceeds of crime or projected such property as untainted. The Madras HC therefore found the essential ingredients of the offence absent against him and quashed the prosecution, while permitting the case to continue against the remaining accused. Case-Laws Money Laundering Mon, 14 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421326