https://www.taxtmi.com/caselaws?id=758600 Section 3 of the Prevention of Money Laundering Act was construed broadly to cover possession, acquisition, concealment, use, and other dealings with proceeds of crime, not merely the final integration of tainted funds into the formal economy. The court held that the relevant inquiry is whether the accused was involved in handling proceeds of crime, and rejected the argument that the amended explanation could not apply retrospectively to the alleged receipt and handling of bribe money. On that basis, the refusal to discharge was upheld and the complaint was found to disclose a prima facie offence under the Act. en-us Fri, 30 Aug 2024 00:00:00 +0530 Mon, 16 Sep 2024 20:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758600 Section 3 of the Prevention of Money Laundering Act was construed broadly to cover possession, acquisition, concealment, use, and other dealings with proceeds of crime, not merely the final integration of tainted funds into the formal economy. The court held that the relevant inquiry is whether the accused was involved in handling proceeds of crime, and rejected the argument that the amended explanation could not apply retrospectively to the alleged receipt and handling of bribe money. On that basis, the refusal to discharge was upheld and the complaint was found to disclose a prima facie offence under the Act. Case-Laws Money Laundering Fri, 30 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758600