https://www.taxtmi.com/highlights?id=91570 The AT dismissed the appeal challenging the attachment of property under money laundering proceedings against the appellant, a bank branch manager accused of sanctioning unauthorized loans based on fabricated documents. The Tribunal reaffirmed that property acquired prior to the commission of the scheduled offence is not subject to attachment, but where proceeds of crime are not found with the accused due to their disappearance, property of equivalent value may be attached. The decision relied on established precedent confirming that attachment aims to prevent dissipation of criminal proceeds and enforce recovery even if the direct proceeds are unavailable. Given that the proceeds had vanished and were not in the appellant's possession, att..... en-us Thu, 14 Aug 2025 08:27:02 +0530 Thu, 14 Aug 2025 08:27:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=91570 The AT dismissed the appeal challenging the attachment of property under money laundering proceedings against the appellant, a bank branch manager accused of sanctioning unauthorized loans based on fabricated documents. The Tribunal reaffirmed that property acquired prior to the commission of the scheduled offence is not subject to attachment, but where proceeds of crime are not found with the accused due to their disappearance, property of equivalent value may be attached. The decision relied on established precedent confirming that attachment aims to prevent dissipation of criminal proceeds and enforce recovery even if the direct proceeds are unavailable. Given that the proceeds had vanished and were not in the appellant's possession, att..... Highlights Money Laundering Thu, 14 Aug 2025 08:27:02 +0530 https://www.taxtmi.com/highlights?id=91570