https://www.taxtmi.com/caselaws?id=761847 Under the PMLA, "proceeds of crime" has wide amplitude and can include equivalent-value property, so the fact that property was acquired before the scheduled offence does not by itself defeat provisional attachment. A valid attachment also depends on the authorised officer recording written reasons to believe on the basis of material in possession, and the order here was treated as sufficiently reasoned and provisional in nature. The first proviso to Section 5(1) and the forwarding requirement under Section 5(2) were viewed as satisfied on the facts, with a short delay caused by holidays not treated as fatal. Disputed facts and the statutory adjudication remedy weighed against writ interference. en-us Wed, 13 Nov 2024 00:00:00 +0530 Mon, 18 Nov 2024 11:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761847 Under the PMLA, "proceeds of crime" has wide amplitude and can include equivalent-value property, so the fact that property was acquired before the scheduled offence does not by itself defeat provisional attachment. A valid attachment also depends on the authorised officer recording written reasons to believe on the basis of material in possession, and the order here was treated as sufficiently reasoned and provisional in nature. The first proviso to Section 5(1) and the forwarding requirement under Section 5(2) were viewed as satisfied on the facts, with a short delay caused by holidays not treated as fatal. Disputed facts and the statutory adjudication remedy weighed against writ interference. Case-Laws Money Laundering Wed, 13 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761847