https://www.taxtmi.com/caselaws?id=767002 The Appellate Tribunal under SAFEMA upheld provisional attachment orders against properties allegedly acquired through illegal foreign remittances to Hong Kong using fake import documents. The appellant failed to prove legitimate income sources as required under section 8(1) of PMLA, 2002, with burden of proof remaining unmet. The tribunal rejected retrospectivity arguments, emphasizing money laundering as a continuing offense regardless of predicate offense timing. Presumptions under sections 23 and 24 operated against appellant who failed to rebut them with appropriate evidence. The tribunal confirmed attached properties constituted proceeds of crime, dismissing the appeal and upholding attachment orders. en-us Wed, 15 Jan 2025 00:00:00 +0530 Sat, 08 Mar 2025 08:32:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767002 The Appellate Tribunal under SAFEMA upheld provisional attachment orders against properties allegedly acquired through illegal foreign remittances to Hong Kong using fake import documents. The appellant failed to prove legitimate income sources as required under section 8(1) of PMLA, 2002, with burden of proof remaining unmet. The tribunal rejected retrospectivity arguments, emphasizing money laundering as a continuing offense regardless of predicate offense timing. Presumptions under sections 23 and 24 operated against appellant who failed to rebut them with appropriate evidence. The tribunal confirmed attached properties constituted proceeds of crime, dismissing the appeal and upholding attachment orders. Case-Laws Money Laundering Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767002