https://www.taxtmi.com/caselaws?id=753862 The Appellate Tribunal under SAFEMA at New Delhi allowed an appeal challenging property attachment orders in a money laundering case involving smuggling of narcotics and extortion rackets. The tribunal held that respondents had already attached 14000 sq. ft. property from one party as proceeds of crime, and subsequently attaching the same proceeds from appellant constituted impermissible double attachment. The tribunal found that property acquired through valid consideration under court decree could not be deemed proceeds of crime, especially when original proceeds were already attached elsewhere. Arguments regarding FSI violations were rejected as not being scheduled offences under the 2002 Act. The attachment orders were quashed as legally inappropriate. en-us Mon, 03 Jun 2024 00:00:00 +0530 Tue, 11 Jun 2024 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753862 The Appellate Tribunal under SAFEMA at New Delhi allowed an appeal challenging property attachment orders in a money laundering case involving smuggling of narcotics and extortion rackets. The tribunal held that respondents had already attached 14000 sq. ft. property from one party as proceeds of crime, and subsequently attaching the same proceeds from appellant constituted impermissible double attachment. The tribunal found that property acquired through valid consideration under court decree could not be deemed proceeds of crime, especially when original proceeds were already attached elsewhere. Arguments regarding FSI violations were rejected as not being scheduled offences under the 2002 Act. The attachment orders were quashed as legally inappropriate. Case-Laws Money Laundering Mon, 03 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753862