8642/2017 Const. P. Govind Ram (Petitioner) V/S Fed. of Pakitan and Ors (Respondent)
Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui(Author), Hon'ble Mr. Justice Agha Faisal
8642/2017 Const. P. Govind Ram (Petitioner) V/S Fed. of Pakitan and Ors (Respondent) Sindh High Court
Bench: Hon'ble Chief Justice Mr. Justice Muhammad Shafi Siddiqui(Author), Hon'ble Mr. Justice Agha Faisal Order Date: 17-SEP-21
The powers primarily were exercised under Section 176(1)(b) of Income Tax Ordinance, whereas investigation undertaken in terms of Section 9(1) of Anti-Money Laundering Act, 2010 by the investigating officer could commence, provided that the investigating officer acted, not later than seven days from the date of order of attachment made under sub-section (1) of section 8 or, seizure of property under section 14 or section 15, on service of a notice of thirty days on the person concerned which may also be an assessee, however, no such pre-qualification exists. We are therefore, of the view that unexplained amount which came in and went out of the account, could be inquired about and an explanation could be sought but until and unless an explanation is forwarded by the assesse to the dissatisfaction of the officer concerned, it is inconceivable at the said premature stage that it was laundered money which is defined under Anti-Money Laundering Act, 2010. Any amount which is not accounted or not considered as taxable amount not necessarily be the laundered money having meaning under AMLA-2010.