https://www.taxtmi.com/caselaws?id=467636 Attachment of a fixed deposit as proceeds of crime under the Prevention of Money Laundering Act, 2002 was sustained because the money trail showed circulation of demonetised cash through intermediary-controlled bank accounts, and statements under section 50 indicated the firms were used to deposit cash at the kingpin's instance without any real sale and purchase of goods. The appellant's claim of a genuine source from tobacco sales failed because the invoices and ledger entries did not align with the timing or amount of the remittances, and no bank evidence supported prior genuine dealings with the firms. en-us Tue, 13 Aug 2024 00:00:00 +0530 Fri, 27 Mar 2026 19:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467636 Attachment of a fixed deposit as proceeds of crime under the Prevention of Money Laundering Act, 2002 was sustained because the money trail showed circulation of demonetised cash through intermediary-controlled bank accounts, and statements under section 50 indicated the firms were used to deposit cash at the kingpin's instance without any real sale and purchase of goods. The appellant's claim of a genuine source from tobacco sales failed because the invoices and ledger entries did not align with the timing or amount of the remittances, and no bank evidence supported prior genuine dealings with the firms. Case-Laws Money Laundering Tue, 13 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467636