TaxTMI 
TaxTMI 
2024 (11) TMI 793
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....wani Taneja, Mr. Prabhat Kumar Rai, Mr. Ayush Saini, Advs. (In Appeal No. 3377/2019) Mr. R.K. Rawal, (Authorized Representative) (In Appeal Nos. 3301,3320, 3378 and 3379/2019) For the Respondent: Mr. Munindra Dvivedi, Adv FINAL ORDER FPA-PMLA-3301,3320&3377-3379/DLI/2019 By this batch of appeals, a challenge has been made to the order dated 04.11.2019 passed by the Adjudicating Authority confirming the attachment of the following immovable properties: S. No. Description of property Value of Property (Rs.) Belongs to Value being attached (Rs.) 1. Shop bearing No. 1165, 3rd Floor, Kucha Mahajani, Chandni Chowk, Delhi-06. 3,79,325/- Puneet Jain 3,79,325/- 2. Flat bearing No. First Floor, 1271-72, Faizganj, B.G. Road, Delhi. 6....
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....rs maintained by Hemraj Singh in Axis Bank, Chandni Chowk, Delhi-110006. 1,36,043.25/- Hemraj Singh 1,36,043.25/- 10. Amount Rs. 987.80/- in Bank A/c No.0113002107361863 in the name of M/s Ganesh Traders maintained by Hemraj Singh in Punjab National Bank, Chandni Chowk, Delhi-110006. 987.80/- Hemraj Singh 987.80/- 11. Amount Rs. 46,139/- in Bank A/c no. 3577794346 in the name of M/s Ganesh Traders maintained by Hemraj Singh in Central Bank of India, Chowraha Gali, Moradabad. 46,139/- Hemraj Singh 46,139/- 12. Amount Rs. 4,963/- in Bank A/c no. 2048548550 in the name of Hemraj Singh in Central Bank of India, Chowraha Gali, Moradabad. 4,963/- Hemraj Singh 4,963/- 13. Property Bearing No. B-17 Old & New No. X- 1363, Gali No....
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....gned order may not be sustainable as mandate of Section 8(1) of the Prevention of Money Laundering Act, 2002 (in short 'the Act of 2002') has not been complied. The Adjudicating Authority is under an obligation to have "reasons to believe" that a person has committed an offence under Section 3 or is in possession of 'proceeds of crime'. A notice may be served on such person to call upon him to indicate the sources of his income within a period of thirty days. 3. In the instant case, "reasons to believe" were not conveyed to the appellant along with the notice issued by the Adjudicating Authority despite judgment of the various High Courts and even by this Tribunal holding that whenever a notice is caused by the Adjudicating Authority under....
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....the parties and it has been brought to our notice by the respondent that the "reasons to believe" have not been conveyed to the appellant by the Adjudicating Authority though relied upon documents have been served on him. 8. In the light of the aforesaid, the impugned order passed by the Adjudicating Authority cannot sustain in view of the judgment of this Tribunal in the case of Neeraj Singal Vs. The Deputy Director, Directorate of Enforcement, New Delhi (FPA-PMLA-6807/DLI/2023) dated 14.12.2023. In the judgment (supra), the issue was decided largely in reference to Section 17 read with Section 20 of the Act of 2002. However, since reference of Section 5(1) and Section 8(1) of the Act of 2002 has also been given, the Tribunal even conside....