https://www.taxtmi.com/caselaws?id=790090 The Tribunal held that "proceeds of crime" under SAFEMA is broad enough to include the value of tainted property, permitting attachment of equivalent-value assets when the original proceeds are unavailable. It found that such attachment is not confined to property held abroad and that prior acquisition of the assets did not by itself defeat attachment where they were proceeded against as equivalent-value property. The Tribunal also held that the material before the authorities satisfied the statutory requirement of reason to believe, and that the reverse burden under the Act required the appellant to show the properties were untainted. The attachment and its confirmation were upheld. en-us Thu, 16 Apr 2026 00:00:00 +0530 Mon, 20 Apr 2026 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790090 The Tribunal held that "proceeds of crime" under SAFEMA is broad enough to include the value of tainted property, permitting attachment of equivalent-value assets when the original proceeds are unavailable. It found that such attachment is not confined to property held abroad and that prior acquisition of the assets did not by itself defeat attachment where they were proceeded against as equivalent-value property. The Tribunal also held that the material before the authorities satisfied the statutory requirement of reason to believe, and that the reverse burden under the Act required the appellant to show the properties were untainted. The attachment and its confirmation were upheld. Case-Laws Money Laundering Thu, 16 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790090