https://www.taxtmi.com/caselaws?id=458050 The Appellate Tribunal, Prevention of Money Laundering Act, New Delhi allowed the appeal and quashed the provisional attachment order. The tribunal held that the appellant purchased property using legitimate personal funds from documented sources, not proceeds of crime. The Enforcement Directorate failed to provide mandatory notice to the appellant as a claimant under Section 8(2) PMLA. The appellant's rights were established through an arms-length transaction completed before winding-up proceedings, with full payment made from legitimate sources. The tribunal found no money laundering offense or criminal nexus, ruling the attachment order unsustainable in law. en-us Tue, 06 Aug 2019 00:00:00 +0530 Sat, 05 Oct 2024 20:11:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458050 The Appellate Tribunal, Prevention of Money Laundering Act, New Delhi allowed the appeal and quashed the provisional attachment order. The tribunal held that the appellant purchased property using legitimate personal funds from documented sources, not proceeds of crime. The Enforcement Directorate failed to provide mandatory notice to the appellant as a claimant under Section 8(2) PMLA. The appellant's rights were established through an arms-length transaction completed before winding-up proceedings, with full payment made from legitimate sources. The tribunal found no money laundering offense or criminal nexus, ruling the attachment order unsustainable in law. Case-Laws Money Laundering Tue, 06 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458050