https://www.taxtmi.com/caselaws?id=772904 The Appellate Tribunal under SAFEMA dismissed an appeal challenging provisional attachment order under PMLA. Appellant, a lawyer, failed to disclose source of funds totaling Rs. 13 lakh for property purchase worth Rs. 24 lakh, despite property's actual value being Rs. 40 lakh. The property was acquired through proceeds of crime involving fraudulent loan obtained by main accused from financial institution. Appellant's involvement in predicate offences and failure to comply with Section 8(1) disclosure requirements justified attachment. Court noted appellant's professional status required greater caution, and his false verification exposed financial institution to losses when loan became non-performing asset. en-us Mon, 19 May 2025 00:00:00 +0530 Mon, 16 Jun 2025 08:38:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772904 The Appellate Tribunal under SAFEMA dismissed an appeal challenging provisional attachment order under PMLA. Appellant, a lawyer, failed to disclose source of funds totaling Rs. 13 lakh for property purchase worth Rs. 24 lakh, despite property's actual value being Rs. 40 lakh. The property was acquired through proceeds of crime involving fraudulent loan obtained by main accused from financial institution. Appellant's involvement in predicate offences and failure to comply with Section 8(1) disclosure requirements justified attachment. Court noted appellant's professional status required greater caution, and his false verification exposed financial institution to losses when loan became non-performing asset. Case-Laws Money Laundering Mon, 19 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772904