https://www.taxtmi.com/caselaws?id=778983 AT dismissed the appeal and upheld the provisional attachment of properties as proceeds of crime under PMLA. The Tribunal found scheduled offences established by local police, borrowers defaulted on loans causing bank losses constituting proceeds, and subsequent transfers were sham transactions designed to conceal quid pro quo. The appellant's purchase was found not genuine, with consideration routed back and inter-connected bank transfers used to disguise receipts. Arguments under Sections 5 and 8 of PMLA were rejected and the attachment order was sustained. en-us Wed, 24 Sep 2025 00:00:00 +0530 Fri, 26 Sep 2025 08:26:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778983 AT dismissed the appeal and upheld the provisional attachment of properties as proceeds of crime under PMLA. The Tribunal found scheduled offences established by local police, borrowers defaulted on loans causing bank losses constituting proceeds, and subsequent transfers were sham transactions designed to conceal quid pro quo. The appellant's purchase was found not genuine, with consideration routed back and inter-connected bank transfers used to disguise receipts. Arguments under Sections 5 and 8 of PMLA were rejected and the attachment order was sustained. Case-Laws Money Laundering Wed, 24 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778983