https://www.taxtmi.com/caselaws?id=467609 Where direct proceeds of crime are no longer traceable, property of equivalent value may still be attached under the PMLA as alternative attachable property. The Tribunal held that the provisional attachment of bank balances was sustainable because the alleged tainted assets had been dissipated or otherwise become unavailable, and the smaller value of the attached movable assets did not defeat the attachment. It also found that the appellant failed to discharge the statutory burden of showing that the attached amounts were from explained and untainted sources. The attachment was upheld and the challenge failed. en-us Thu, 27 Jun 2024 00:00:00 +0530 Thu, 26 Mar 2026 09:05:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467609 Where direct proceeds of crime are no longer traceable, property of equivalent value may still be attached under the PMLA as alternative attachable property. The Tribunal held that the provisional attachment of bank balances was sustainable because the alleged tainted assets had been dissipated or otherwise become unavailable, and the smaller value of the attached movable assets did not defeat the attachment. It also found that the appellant failed to discharge the statutory burden of showing that the attached amounts were from explained and untainted sources. The attachment was upheld and the challenge failed. Case-Laws Money Laundering Thu, 27 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467609