https://www.taxtmi.com/highlights?id=90053 The AT dismissed the appeal challenging provisional attachment orders under PMLA. The appellants contended properties acquired prior to PMLA enforcement and scheduled offence commission could not be attached, arguing lack of connection with proceeds of crime and non-compliance with Section 5(1) conditions. The AT held that properties acquired as "value thereof" need not prove direct connection with proceeds of crime when direct proceeds are absent. Settlement deeds executed post-fraud discovery were deemed attempts to frustrate PMLA proceedings, justifying immediate attachment under the second proviso of Section 5(1). The appellant failed to establish legal income sources for property acquisition despite claiming transfer via settlement dee..... en-us Thu, 03 Jul 2025 08:34:38 +0530 Thu, 03 Jul 2025 08:34:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=90053 The AT dismissed the appeal challenging provisional attachment orders under PMLA. The appellants contended properties acquired prior to PMLA enforcement and scheduled offence commission could not be attached, arguing lack of connection with proceeds of crime and non-compliance with Section 5(1) conditions. The AT held that properties acquired as "value thereof" need not prove direct connection with proceeds of crime when direct proceeds are absent. Settlement deeds executed post-fraud discovery were deemed attempts to frustrate PMLA proceedings, justifying immediate attachment under the second proviso of Section 5(1). The appellant failed to establish legal income sources for property acquisition despite claiming transfer via settlement dee..... Highlights Money Laundering Thu, 03 Jul 2025 08:34:38 +0530 https://www.taxtmi.com/highlights?id=90053