https://www.taxtmi.com/caselaws?id=771683 The SC Tribunal addressed two key tax penalty issues during demonetization: (1) cash receipt from an elderly father without prescribed declaration, and (2) interest income from land compensation. The Tribunal deleted penalties under sections 271D and 270A, finding reasonable cause due to genuine hardship, bonafide belief based on conflicting judicial precedents, and absence of malafide intent to evade taxes. en-us Tue, 27 May 2025 00:00:00 +0530 Thu, 29 May 2025 08:41:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771683 The SC Tribunal addressed two key tax penalty issues during demonetization: (1) cash receipt from an elderly father without prescribed declaration, and (2) interest income from land compensation. The Tribunal deleted penalties under sections 271D and 270A, finding reasonable cause due to genuine hardship, bonafide belief based on conflicting judicial precedents, and absence of malafide intent to evade taxes. Case-Laws Income Tax Tue, 27 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771683