https://www.taxtmi.com/caselaws?id=451167 The ITAT ruled in favor of the appellant, a Book Maker, regarding a penalty under section 271D of the Income Tax Act, 1961, for receiving Rs. 9,38,000 in cash during a property sale. The Tribunal found no violation of section 269SS, as the cash was received at registration, not as an advance. Consequently, the penalty was deemed not applicable, and the appellant's appeal was allowed. en-us Tue, 19 Mar 2024 00:00:00 +0530 Wed, 20 Mar 2024 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=451167 The ITAT ruled in favor of the appellant, a Book Maker, regarding a penalty under section 271D of the Income Tax Act, 1961, for receiving Rs. 9,38,000 in cash during a property sale. The Tribunal found no violation of section 269SS, as the cash was received at registration, not as an advance. Consequently, the penalty was deemed not applicable, and the appellant's appeal was allowed. Case-Laws Income Tax Tue, 19 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=451167