https://www.taxtmi.com/caselaws?id=775345 The AT under SAFEMA at New Delhi dismissed the appeal concerning the attachment of property under the PMLA linked to money laundering through falsified accounts of a company. It was established that part of the purchase price for the property originated from proceeds of crime traced to inflated share sales. The Tribunal held that proceeds of crime include property equivalent in value to that derived from criminal activity, regardless of legitimate sources used for acquisition. The Tribunal emphasized that PMLA's objective differs from SARFAESI Act and rejected the argument that SARFAESI overrides PMLA. The failure to provide an opportunity of hearing under Section 8 of PMLA was noted but did not alter the outcome. The appeal was dismissed. en-us Wed, 09 Jul 2025 00:00:00 +0530 Thu, 24 Jul 2025 08:40:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775345 The AT under SAFEMA at New Delhi dismissed the appeal concerning the attachment of property under the PMLA linked to money laundering through falsified accounts of a company. It was established that part of the purchase price for the property originated from proceeds of crime traced to inflated share sales. The Tribunal held that proceeds of crime include property equivalent in value to that derived from criminal activity, regardless of legitimate sources used for acquisition. The Tribunal emphasized that PMLA's objective differs from SARFAESI Act and rejected the argument that SARFAESI overrides PMLA. The failure to provide an opportunity of hearing under Section 8 of PMLA was noted but did not alter the outcome. The appeal was dismissed. Case-Laws Money Laundering Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775345