https://www.taxtmi.com/caselaws?id=775012 Seized cash retention was sustained because the appellant did not establish a lawful source for the cash through independent corroboration. The Tribunal found that cash ledger, balance-sheet and income-tax material were insufficient on their own, while the absence of bank records undermined the claim that the funds came from business savings; the statutory statement also supported the respondent. It further rejected objections that the proceedings lacked a predicate offence or that reasons to believe and relied-upon documents were not supplied, noting that the record showed service of those materials and that the earlier FIRs and applicable penal laws provided the necessary offence basis. The appeal therefore failed. en-us Wed, 09 Jul 2025 00:00:00 +0530 Fri, 18 Jul 2025 08:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775012 Seized cash retention was sustained because the appellant did not establish a lawful source for the cash through independent corroboration. The Tribunal found that cash ledger, balance-sheet and income-tax material were insufficient on their own, while the absence of bank records undermined the claim that the funds came from business savings; the statutory statement also supported the respondent. It further rejected objections that the proceedings lacked a predicate offence or that reasons to believe and relied-upon documents were not supplied, noting that the record showed service of those materials and that the earlier FIRs and applicable penal laws provided the necessary offence basis. The appeal therefore failed. Case-Laws Money Laundering Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775012