https://www.taxtmi.com/caselaws?id=772409 The Appellate Tribunal under SAFEMA dismissed the appeal challenging property attachment under PMLA. The Tribunal held that ED satisfied statutory requirements under Section 5 by demonstrating tangible material and reasonable belief that appellants possessed proceeds of crime likely to be concealed or transferred. Properties purchased by accused's family members and later transferred were validly attached as "value thereof" under the third limb of proceeds of crime definition, applicable retrospectively from 2015 amendment. The Tribunal found the properties were rightly attached despite being acquired before the scheduled offence, as PMLA proceedings operate independently of predicate offences once initiated. en-us Wed, 04 Jun 2025 00:00:00 +0530 Sat, 07 Jun 2025 08:40:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772409 The Appellate Tribunal under SAFEMA dismissed the appeal challenging property attachment under PMLA. The Tribunal held that ED satisfied statutory requirements under Section 5 by demonstrating tangible material and reasonable belief that appellants possessed proceeds of crime likely to be concealed or transferred. Properties purchased by accused's family members and later transferred were validly attached as "value thereof" under the third limb of proceeds of crime definition, applicable retrospectively from 2015 amendment. The Tribunal found the properties were rightly attached despite being acquired before the scheduled offence, as PMLA proceedings operate independently of predicate offences once initiated. Case-Laws Money Laundering Wed, 04 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772409