https://www.taxtmi.com/caselaws?id=772421 The Appellate Tribunal under SAFEMA at New Delhi dismissed the appeal challenging ED's provisional attachment of properties under PMLA. The Tribunal held that properties can be attached as proceeds of crime or equivalent value even if acquired prior to the predicate offence, particularly when actual tainted proceeds were siphoned off through layering. The appellants failed to discharge their burden under Section 24 PMLA to prove lawful acquisition of properties through legal income sources. The Tribunal ruled that ED has power to provisionally attach properties before conviction to preserve assets for potential confiscation, rejecting appellants' contention that attachment requires completed trial proceedings. en-us Thu, 05 Jun 2025 00:00:00 +0530 Mon, 09 Jun 2025 07:29:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772421 The Appellate Tribunal under SAFEMA at New Delhi dismissed the appeal challenging ED's provisional attachment of properties under PMLA. The Tribunal held that properties can be attached as proceeds of crime or equivalent value even if acquired prior to the predicate offence, particularly when actual tainted proceeds were siphoned off through layering. The appellants failed to discharge their burden under Section 24 PMLA to prove lawful acquisition of properties through legal income sources. The Tribunal ruled that ED has power to provisionally attach properties before conviction to preserve assets for potential confiscation, rejecting appellants' contention that attachment requires completed trial proceedings. Case-Laws Money Laundering Thu, 05 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772421