https://www.taxtmi.com/caselaws?id=456367 The Prevention of Money-Laundering Act inquiry must remain tied to property derived, directly or indirectly, from criminal activity relating to a scheduled offence, and "proceeds of crime" must be construed strictly. The Section 50 summons power is limited to inquiry into relevant facts concerning such proceeds and persons connected with them. On the materials referred to, no nexus was shown between the petitioners and the predicate offences, no verifiable material indicated knowledge of proceeds of crime, and the summons risked becoming a roving inquiry. Interim protection was therefore granted and operation of the summons was stayed. en-us Fri, 05 Jan 2024 00:00:00 +0530 Fri, 19 Jul 2024 20:04:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456367 The Prevention of Money-Laundering Act inquiry must remain tied to property derived, directly or indirectly, from criminal activity relating to a scheduled offence, and "proceeds of crime" must be construed strictly. The Section 50 summons power is limited to inquiry into relevant facts concerning such proceeds and persons connected with them. On the materials referred to, no nexus was shown between the petitioners and the predicate offences, no verifiable material indicated knowledge of proceeds of crime, and the summons risked becoming a roving inquiry. Interim protection was therefore granted and operation of the summons was stayed. Case-Laws Money Laundering Fri, 05 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456367