https://www.taxtmi.com/highlights?id=57126 Levy of penalty u/s 271D - Receipt of deposits in cash in contravention of provisions of section 269SS - The assessee explained before the authorities below that two of the neighbours of the assessee purchased the properties and they were to make payment to HUDA. Since there was having no bank account, therefore, on their request assessee received the amount and deposited in his bank account - assessee has reasonable cause for failure to comply with provisions of law contained u/s 271D - No penalty - AT en-us Thu, 11 Mar 2021 12:46:20 +0530 Thu, 11 Mar 2021 12:46:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=57126 Levy of penalty u/s 271D - Receipt of deposits in cash in contravention of provisions of section 269SS - The assessee explained before the authorities below that two of the neighbours of the assessee purchased the properties and they were to make payment to HUDA. Since there was having no bank account, therefore, on their request assessee received the amount and deposited in his bank account - assessee has reasonable cause for failure to comply with provisions of law contained u/s 271D - No penalty - AT Highlights Income Tax Thu, 11 Mar 2021 12:46:20 +0530 https://www.taxtmi.com/highlights?id=57126