https://www.taxtmi.com/caselaws?id=443103 Proceedings under the Prevention of Money-Laundering Act, 2002 cannot continue where the scheduled offence has ended in acquittal and the record does not show generation or possession of proceeds of crime. The Court applied the settled principle that liability under Section 3 depends on the existence of a scheduled offence and illicit gain arising from criminal activity. Relying on Vijay Madanlal Choudhary as binding under Article 141, it noted that the related proceedings against the person through whom the alleged benefit was derived had also been quashed for want of criminal proceeds. On those facts, continuation of PMLA proceedings was impermissible. en-us Fri, 08 Sep 2023 00:00:00 +0530 Fri, 15 Sep 2023 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443103 Proceedings under the Prevention of Money-Laundering Act, 2002 cannot continue where the scheduled offence has ended in acquittal and the record does not show generation or possession of proceeds of crime. The Court applied the settled principle that liability under Section 3 depends on the existence of a scheduled offence and illicit gain arising from criminal activity. Relying on Vijay Madanlal Choudhary as binding under Article 141, it noted that the related proceedings against the person through whom the alleged benefit was derived had also been quashed for want of criminal proceeds. On those facts, continuation of PMLA proceedings was impermissible. Case-Laws Money Laundering Fri, 08 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443103