https://www.taxtmi.com/caselaws?id=761845 The Appellate Tribunal under SAFEMA at New Delhi dismissed an appeal challenging attachment proceedings under the Prevention of Money Laundering Act, 2002. The appellant sought lapse of attachment order citing Section 5(1) and (3), arguing the Adjudicating Authority failed to terminate proceedings within the mandatory 180-day period. The Tribunal rejected this contention, noting that COVID-19 constituted extraordinary circumstances warranting exclusion of the period from 15.03.2020 to 20.08.2022 from the limitation calculation, as established by SC precedent. After excluding this period, only 26 days remained, well within the 180-day limit. The appeal was dismissed. en-us Tue, 10 Sep 2024 00:00:00 +0530 Mon, 18 Nov 2024 09:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761845 The Appellate Tribunal under SAFEMA at New Delhi dismissed an appeal challenging attachment proceedings under the Prevention of Money Laundering Act, 2002. The appellant sought lapse of attachment order citing Section 5(1) and (3), arguing the Adjudicating Authority failed to terminate proceedings within the mandatory 180-day period. The Tribunal rejected this contention, noting that COVID-19 constituted extraordinary circumstances warranting exclusion of the period from 15.03.2020 to 20.08.2022 from the limitation calculation, as established by SC precedent. After excluding this period, only 26 days remained, well within the 180-day limit. The appeal was dismissed. Case-Laws Money Laundering Tue, 10 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761845