https://www.taxtmi.com/caselaws?id=759788 Freezing and retention of a bank account were upheld where the credited funds were treated as proceeds of crime under the Prevention of Money Laundering Act, 2002. The Tribunal relied on the absence of material showing that the appellant supplied goods or services against the remittance, including no invoices or bills, and held that the credited amount could be linked to tainted transactions under investigation. The appellant's non-implication in the charge-sheet or prosecution complaint was not decisive, and mere denial of knowledge of the source was insufficient to release of the funds. en-us Thu, 12 Sep 2024 00:00:00 +0530 Wed, 09 Oct 2024 08:20:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759788 Freezing and retention of a bank account were upheld where the credited funds were treated as proceeds of crime under the Prevention of Money Laundering Act, 2002. The Tribunal relied on the absence of material showing that the appellant supplied goods or services against the remittance, including no invoices or bills, and held that the credited amount could be linked to tainted transactions under investigation. The appellant's non-implication in the charge-sheet or prosecution complaint was not decisive, and mere denial of knowledge of the source was insufficient to release of the funds. Case-Laws Money Laundering Thu, 12 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759788