https://www.taxtmi.com/caselaws?id=775198 The Appellate Tribunal under SAFEMA at New Delhi dismissed appeals by nine family members challenging provisional attachment orders under money laundering provisions. The appellants, including spouses, daughters-in-law, sons, and grandchildren of the main accused Shri Devki Nandan Garg, failed to establish legitimate sources for their property acquisitions and financial transactions. The Tribunal found that properties purchased by housewives without independent income, gifts to grandchildren, and various financial transfers were proceeds of crime being layered through family members. Statements recorded under Section 50(2) of the 2002 Act supported the attachment orders. The appellants could not provide bank statements, income proof, or credible explanations for substantial property purchases and fund accumulations. The Tribunal concluded all properties and accounts were rightfully attached as they originated from proceeds of crime, with transfers designed to evade attachment by placing assets in relatives' names. en-us Wed, 09 Jul 2025 00:00:00 +0530 Tue, 22 Jul 2025 08:25:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775198 The Appellate Tribunal under SAFEMA at New Delhi dismissed appeals by nine family members challenging provisional attachment orders under money laundering provisions. The appellants, including spouses, daughters-in-law, sons, and grandchildren of the main accused Shri Devki Nandan Garg, failed to establish legitimate sources for their property acquisitions and financial transactions. The Tribunal found that properties purchased by housewives without independent income, gifts to grandchildren, and various financial transfers were proceeds of crime being layered through family members. Statements recorded under Section 50(2) of the 2002 Act supported the attachment orders. The appellants could not provide bank statements, income proof, or credible explanations for substantial property purchases and fund accumulations. The Tribunal concluded all properties and accounts were rightfully attached as they originated from proceeds of crime, with transfers designed to evade attachment by placing assets in relatives' names. Case-Laws Money Laundering Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775198