https://www.taxtmi.com/caselaws?id=765777 The Appellate Tribunal under SAFEMA dismissed an appeal challenging a Provisional Attachment Order for alleged benami property. The property was attached by Enforcement Directorate under PMLA, 2002, but no criminal action was initiated against the proprietor or respondent under PMLA. The Tribunal noted that parameters for classifying transactions as benami versus money laundering are distinct under PBPTA and PMLA definitions. Investigation revealed funds were transferred from an entity owned by a different person, not the alleged beneficial owner. The appeal was dismissed. en-us Thu, 30 Jan 2025 00:00:00 +0530 Mon, 10 Feb 2025 07:50:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765777 The Appellate Tribunal under SAFEMA dismissed an appeal challenging a Provisional Attachment Order for alleged benami property. The property was attached by Enforcement Directorate under PMLA, 2002, but no criminal action was initiated against the proprietor or respondent under PMLA. The Tribunal noted that parameters for classifying transactions as benami versus money laundering are distinct under PBPTA and PMLA definitions. Investigation revealed funds were transferred from an entity owned by a different person, not the alleged beneficial owner. The appeal was dismissed. Case-Laws Benami Property Thu, 30 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765777