https://www.taxtmi.com/caselaws?id=778893 HC held the FDRs seized during searches are prima facie proceeds of crime under PMLA, not taxable income under the IT Act, and therefore cannot be appropriated by the Income Tax Department to satisfy alleged tax demands before conclusion of the PMLA/criminal trial. Applying the dominant-purpose analysis, the court found PMLA's object of forfeiture and restoration prevails and that premature appropriation would prejudice ongoing proceedings. The IT Department's application to release/appropriate the FDR amounts for tax recovery was rejected and the petition dismissed. en-us Thu, 18 Sep 2025 00:00:00 +0530 Wed, 24 Sep 2025 08:08:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778893 HC held the FDRs seized during searches are prima facie proceeds of crime under PMLA, not taxable income under the IT Act, and therefore cannot be appropriated by the Income Tax Department to satisfy alleged tax demands before conclusion of the PMLA/criminal trial. Applying the dominant-purpose analysis, the court found PMLA's object of forfeiture and restoration prevails and that premature appropriation would prejudice ongoing proceedings. The IT Department's application to release/appropriate the FDR amounts for tax recovery was rejected and the petition dismissed. Case-Laws Income Tax Thu, 18 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778893