https://www.taxtmi.com/caselaws?id=468196 Attachment of bank accounts as proceeds of crime was sustained because the appellant failed to prove a lawful source of the funds. The claimed loan and repayment story was unsupported by bank statements or other documentary evidence, and the asserted dividend income from HUF shares was likewise unverified, with no records of shareholding, dividend receipts, or company details produced. The Tribunal also relied on the appellant's Section 50 statement under the Prevention of Money-Laundering Act, 2002, in which control over the concerned companies and cash use linked to the predicate offences was acknowledged. On these facts, the challenge to the attachment failed. en-us Wed, 29 Jan 2025 00:00:00 +0530 Tue, 21 Apr 2026 18:59:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468196 Attachment of bank accounts as proceeds of crime was sustained because the appellant failed to prove a lawful source of the funds. The claimed loan and repayment story was unsupported by bank statements or other documentary evidence, and the asserted dividend income from HUF shares was likewise unverified, with no records of shareholding, dividend receipts, or company details produced. The Tribunal also relied on the appellant's Section 50 statement under the Prevention of Money-Laundering Act, 2002, in which control over the concerned companies and cash use linked to the predicate offences was acknowledged. On these facts, the challenge to the attachment failed. Case-Laws Money Laundering Wed, 29 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468196