https://www.taxtmi.com/highlights?id=69261 Levying penalty u/s 271D - violation of section 269SS - “reasonable cause” u/s 273B - sale of property - total consideration assessee received part by demand draft and balance amount in cash - Such technical breach due to ignorance of the relevant provision of law on account of bonafide belief coupled with the fact that the transaction in question is genuine and bonafide transaction are undertaken during the regular course of its business will not result in levy of penalty u/ 271D of the Act. - AT en-us Mon, 17 Apr 2023 08:06:13 +0530 Mon, 17 Apr 2023 08:06:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=69261 Levying penalty u/s 271D - violation of section 269SS - “reasonable cause” u/s 273B - sale of property - total consideration assessee received part by demand draft and balance amount in cash - Such technical breach due to ignorance of the relevant provision of law on account of bonafide belief coupled with the fact that the transaction in question is genuine and bonafide transaction are undertaken during the regular course of its business will not result in levy of penalty u/ 271D of the Act. - AT Highlights Income Tax Mon, 17 Apr 2023 08:06:13 +0530 https://www.taxtmi.com/highlights?id=69261