https://www.taxtmi.com/caselaws?id=440928 The ITAT allowed the appeal and deleted the penalty imposed under section 271D for receiving cash on the sale of immovable property, holding that the transaction did not involve black money dealings in cash. The ITAT rejected the argument that sale consideration is excluded from the purview of Section 269SS, emphasizing the wider definition of immovable property to include both land and buildings. The digital signatures on the penalty order were deemed valid, and the ITAT concluded that the penalty was not justified in this case. en-us Wed, 26 Jul 2023 00:00:00 +0530 Sat, 29 Jul 2023 08:10:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440928 The ITAT allowed the appeal and deleted the penalty imposed under section 271D for receiving cash on the sale of immovable property, holding that the transaction did not involve black money dealings in cash. The ITAT rejected the argument that sale consideration is excluded from the purview of Section 269SS, emphasizing the wider definition of immovable property to include both land and buildings. The digital signatures on the penalty order were deemed valid, and the ITAT concluded that the penalty was not justified in this case. Case-Laws Income Tax Wed, 26 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440928