https://www.taxtmi.com/caselaws?id=756819 The Appellate Tribunal under SAFEMA dismissed an appeal challenging provisional attachment of land property treated as proceeds of crime. The tribunal held that even if the appellant was not named as accused, holding proceeds of crime makes the property subject to seizure/attachment. The 180-day limitation challenge failed as COVID-19 period was excluded per Telangana HC precedent. The case involved Rs.7.56 crores extracted from 51 students for visa/admission arrangements through circular transactions to project proceeds of crime as legitimate. The tribunal found the circular transactions were created solely to launder criminal proceeds, rejecting the appellant's case. en-us Thu, 25 Jul 2024 00:00:00 +0530 Fri, 09 Aug 2024 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756819 The Appellate Tribunal under SAFEMA dismissed an appeal challenging provisional attachment of land property treated as proceeds of crime. The tribunal held that even if the appellant was not named as accused, holding proceeds of crime makes the property subject to seizure/attachment. The 180-day limitation challenge failed as COVID-19 period was excluded per Telangana HC precedent. The case involved Rs.7.56 crores extracted from 51 students for visa/admission arrangements through circular transactions to project proceeds of crime as legitimate. The tribunal found the circular transactions were created solely to launder criminal proceeds, rejecting the appellant's case. Case-Laws Money Laundering Thu, 25 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756819