https://www.taxtmi.com/caselaws?id=773064 The Appellate Tribunal under SAFEMA dismissed an appeal challenging property attachment under money laundering charges. The case involved illegal exchange of demonetized currency through conspiracy with bank officials. Despite no charge sheet being filed against the appellant and absence of direct evidence linking the property to crime proceeds, the Tribunal upheld the Enforcement Directorate's Provisional Attachment Order. The court applied the second limb of "proceeds of crime" definition, allowing attachment of equivalent value property when actual proceeds were siphoned off. The appeal was rejected as premature pending charge sheet or closure report filing. en-us Mon, 17 Mar 2025 00:00:00 +0530 Wed, 18 Jun 2025 09:04:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773064 The Appellate Tribunal under SAFEMA dismissed an appeal challenging property attachment under money laundering charges. The case involved illegal exchange of demonetized currency through conspiracy with bank officials. Despite no charge sheet being filed against the appellant and absence of direct evidence linking the property to crime proceeds, the Tribunal upheld the Enforcement Directorate's Provisional Attachment Order. The court applied the second limb of "proceeds of crime" definition, allowing attachment of equivalent value property when actual proceeds were siphoned off. The appeal was rejected as premature pending charge sheet or closure report filing. Case-Laws Money Laundering Mon, 17 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773064