2025 (6) TMI 930

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.... Manu Sharma, Sr. Advocate Mr. Ashish Verma, Mr. Debopriyo Moulik, Mr. Sagar Shetty and Mr. Arjun Kakkar, Advocates For the Respondent : Mr. Chandra Prakash and Mr. Abhinav Kumar, Advocate FINAL ORDER FPA-PMLA-3815/MUM/2020 The appellant has challenged the order dated 16.10.2020 passed by the Adjudicating Authority permitting retention of the articles which in the present case is jewellery of ....

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....passed on the proceeds of crime to the appellant so as to seize it. Rather, the FIR was registered in the year 2019 whereas the appellant had disclosed the jewellery in Income-Tax Return filed in the year 2010 thus by no stretch of imagination, it could have been considered to be the proceeds of crime and otherwise the appellant has disclosed the source for the jewellery. 3. The appellant has bee....

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....was shown in the Income-Tax Return for every financial year but it would not mean that it cannot be termed to be the proceeds of crime. It is otherwise a fact that the Income-Tax Return does not detail out the jewellery and thus was rightly seized by the respondents even if the appellant is not an accused in the case. 5. I have considered the rival submissions of the parties and scanned the recor....

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....in the Income-Tax Return but we find that it has been given in the wealth tax returns. The respondents were otherwise under an obligation to find out as to whether the jewellery disclosed in the Income-Tax Return and Wealth Tax Return for the last many years i.e. starting from 2010 is matching to the jewellery seized by the respondents. It is otherwise said to be the proceeds of crime which the re....