https://www.taxtmi.com/article/detailed?id=8306 Restriction on cash receipts prohibits receiving large cash amounts except by specified banking instruments; a penalty equal to the receipt amount applies for contravention unless the person proves good and sufficient reasons. Judicial principles treating recorded transactions, known identity of parties, absence of malafide intent, and bona fide belief as reasonable cause inform what may qualify as sufficient reasons. Because the statute does not define those reasons, administrative discretion, compliance burdens, and business disruption follow, prompting calls for guidance and temporary relaxation. en-us Wed, 02 Jan 2019 19:01:11 +0530 Thu, 03 Jan 2019 06:11:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8306 Restriction on cash receipts prohibits receiving large cash amounts except by specified banking instruments; a penalty equal to the receipt amount applies for contravention unless the person proves good and sufficient reasons. Judicial principles treating recorded transactions, known identity of parties, absence of malafide intent, and bona fide belief as reasonable cause inform what may qualify as sufficient reasons. Because the statute does not define those reasons, administrative discretion, compliance burdens, and business disruption follow, prompting calls for guidance and temporary relaxation. Articles Income Tax Wed, 02 Jan 2019 19:01:11 +0530 https://www.taxtmi.com/article/detailed?id=8306