https://www.taxtmi.com/caselaws?id=763728 The Appellate Tribunal under SAFEMA dismissed an appeal challenging provisional attachment under Section 5(1) of PMLA, 2002. The case involved allegations of money laundering through exorbitant compensation distribution to farmers and misappropriation of government funds by granting compensation at non-agricultural rates for agricultural land. The Tribunal rejected arguments regarding non-completion of adjudication within 180 days, absence of scheduled offence, lack of nexus between properties and proceeds of crime, and procedural deficiencies. The Tribunal found sufficient evidence of money laundering offence and upheld the attachment order, noting appellants failed to prove legitimate sources for acquiring properties worth crores despite claiming agricultural income. en-us Tue, 05 Nov 2024 00:00:00 +0530 Thu, 26 Dec 2024 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763728 The Appellate Tribunal under SAFEMA dismissed an appeal challenging provisional attachment under Section 5(1) of PMLA, 2002. The case involved allegations of money laundering through exorbitant compensation distribution to farmers and misappropriation of government funds by granting compensation at non-agricultural rates for agricultural land. The Tribunal rejected arguments regarding non-completion of adjudication within 180 days, absence of scheduled offence, lack of nexus between properties and proceeds of crime, and procedural deficiencies. The Tribunal found sufficient evidence of money laundering offence and upheld the attachment order, noting appellants failed to prove legitimate sources for acquiring properties worth crores despite claiming agricultural income. Case-Laws Money Laundering Tue, 05 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763728