https://www.taxtmi.com/caselaws?id=794956 Attachment under the Prevention of Money Laundering Act requires a demonstrated nexus between the attached property and proceeds of crime, including receipt or diversion by the person whose property is attached. An amount paid before the alleged crime period for a proposed shop sale, and not shown to originate from diverted home-buyers' funds, was not proceeds of crime. Accordingly, attachment of the appellant's fixed deposit as property of equivalent value lacked a statutory basis. A failure to refund the payment may support a civil recovery claim, but does not convert the amount into proceeds of crime or permit the Enforcement Directorate to recover it for the transferor. The attachment confirmation was set aside. en-us Mon, 06 Jul 2026 00:00:00 +0530 Wed, 15 Jul 2026 08:22:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794956 Attachment under the Prevention of Money Laundering Act requires a demonstrated nexus between the attached property and proceeds of crime, including receipt or diversion by the person whose property is attached. An amount paid before the alleged crime period for a proposed shop sale, and not shown to originate from diverted home-buyers' funds, was not proceeds of crime. Accordingly, attachment of the appellant's fixed deposit as property of equivalent value lacked a statutory basis. A failure to refund the payment may support a civil recovery claim, but does not convert the amount into proceeds of crime or permit the Enforcement Directorate to recover it for the transferor. The attachment confirmation was set aside. Case-Laws Money Laundering Mon, 06 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794956