https://www.taxtmi.com/caselaws?id=760489 The ITAT Dehradun allowed the assessee's appeal against penalty u/s 271D for alleged violation of section 269SS. The assessee received cash consideration after property registration, deposited it in bank account, and used it to purchase another property. The AO accepted the transaction as genuine in regular assessment without additions. The tribunal found no violation of section 269SS since cash payment was made before the sub-registrar during registration, the transaction was recorded in the sale deed, and the money flow was transparent and accepted by authorities. en-us Fri, 18 Oct 2024 00:00:00 +0530 Mon, 21 Oct 2024 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760489 The ITAT Dehradun allowed the assessee's appeal against penalty u/s 271D for alleged violation of section 269SS. The assessee received cash consideration after property registration, deposited it in bank account, and used it to purchase another property. The AO accepted the transaction as genuine in regular assessment without additions. The tribunal found no violation of section 269SS since cash payment was made before the sub-registrar during registration, the transaction was recorded in the sale deed, and the money flow was transparent and accepted by authorities. Case-Laws Income Tax Fri, 18 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760489