https://www.taxtmi.com/highlights?id=70785 Levy of penalty u/s 271D - Cash transaction in connection with violation of section 269SS - reasonable cause - Sale of residential flats to an agriculturist - cash sale consideration is very much reflected in the Registered Sale Deed as executed by the Purchaser - Levy of penalty is discretionary and not automatic - A careful reading of Section 273B encompasses that certain penalties “shall” not be imposed in cases where “reasonable cause” is successfully pleaded. - No penalty - AT en-us Fri, 07 Jul 2023 08:44:13 +0530 Fri, 07 Jul 2023 12:05:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70785 Levy of penalty u/s 271D - Cash transaction in connection with violation of section 269SS - reasonable cause - Sale of residential flats to an agriculturist - cash sale consideration is very much reflected in the Registered Sale Deed as executed by the Purchaser - Levy of penalty is discretionary and not automatic - A careful reading of Section 273B encompasses that certain penalties “shall” not be imposed in cases where “reasonable cause” is successfully pleaded. - No penalty - AT Highlights Income Tax Fri, 07 Jul 2023 08:44:13 +0530 https://www.taxtmi.com/highlights?id=70785