https://www.taxtmi.com/caselaws?id=756957 The appellate tribunal set aside the order of seizure under the Prevention of Money Laundering Act, 2002, ruling it as lapsed. The tribunal determined that the seizure could not continue beyond 365 days without completion of the investigation or filing of a prosecution complaint. The judgment emphasized adherence to statutory timelines, particularly under Section 8(3)(a), and highlighted the necessity for adjudication within 30 days as per Sections 17 to 21. The tribunal's decision underscores the importance of procedural compliance in maintaining the validity of seizures under the Act. en-us Tue, 09 Jul 2024 00:00:00 +0530 Tue, 13 Aug 2024 07:05:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756957 The appellate tribunal set aside the order of seizure under the Prevention of Money Laundering Act, 2002, ruling it as lapsed. The tribunal determined that the seizure could not continue beyond 365 days without completion of the investigation or filing of a prosecution complaint. The judgment emphasized adherence to statutory timelines, particularly under Section 8(3)(a), and highlighted the necessity for adjudication within 30 days as per Sections 17 to 21. The tribunal's decision underscores the importance of procedural compliance in maintaining the validity of seizures under the Act. Case-Laws Money Laundering Tue, 09 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756957