TaxTMI 
TaxTMI 
2024 (4) TMI 687
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....ed 13.10.2022 passed by the Adjudicating Authority confirming the attachment of moveable property of the appellant. 2. Learned counsel for the appellant submits that FIR No. 176/2021 was registered by Bund Garden Police Station, District Pune for the offence under Sections 420,406,464,467,471,34,120-B,181,201,419,465 and 468 of Indian Penal Code. The FIR was registered based on the complaint of one Khusro Khan. The complainant made several allegations against the accused in reference to the affairs of TabootInam Endowment Trust registered with Wakf Board. 3. A land bearing Gat No.335/1, MoujeMaan, Taluka Mulshi, District Pune was owned by the Trust. The allegation is in reference to a land of the Trust acquired followed by an award fo....
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....cation of the property would not arise. In the light of the aforesaid, the order of attachment so as its confirmation needs to be interfered. 5. The appeal has been contested by the counsel for the respondent. It is submitted that a sum of Rs.7,76,98,250/- is directly proceeds of crime in the hands of appellant and in that circumstances, this Tribunal may not cause interference in the attachment or its confirmation by the Adjudicating Authority. If at all, this Tribunal comes to the conclusion that the amount attached has already been secured in TIET account with Bund Garden Police Station, Pune and there is no question of transfer, alienation or to deal with in manner to frustrate the confiscation. It may be clarified that in case the p....
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....er which may result in frustrating any proceedings relating to confiscation of such proceeds of crime under this Chapter, he may, by order in writing, provisionally attach such property for a period not exceeding one hundred and eighty days from the date of the order, in such manner as may be prescribed: Provided that no such order of attachment shall be made unless, in relation to the scheduled offence, a report has been forwarded to a Magistrate under section 173 of the Code of Criminal Procedure, 1973 (2 of 1974), or a complaint has been filed by a person authorised to investigate the offence mentioned in that Schedule, before a Magistrate or court for taking cognizance of the scheduled offence, as the case may be, or a....
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....ealment or transfer, etc. 9. At this stage, it may be clarified that proceeds of crime defined under Section 2 (v) of the Act of 2002 not only refers to direct proceeds of crime or its equivalent value when proceeds of crime is not available. The interpretation aforesaid has been given by the Apex Court in the case of Vijay Madan Lal Choudhary Vs. Union of India reported in 2022 SCC Online SC929. In the instant case, it is not in dispute that Bund Garden Police Station has frozen the bank account No.920020062949058 of TIET on 29.08.2021. It is for the amount of proceeds of crime to the tune of Rs.7.96 crores and additional amount is of Rs.1.5 crores for which a property of the appellant in the connected appeal has been attached. Till the....