https://www.taxtmi.com/caselaws?id=772287 ITAT Pune dismissed Revenue's appeal challenging CIT(A)'s deletion of penalty u/s 271D for alleged violation of section 269SS. The case involved a property developer who received Rs. 1,37,73,000 in cash for additional amenities in row houses. ITAT held that since the agreed sale consideration for immovable property transfer was received through banking channels and the additional amount was for interior work beyond the sale agreement, there was no violation of section 269SS. The tribunal concluded that specified sums under section 269SS relate only to consideration for property transfer, not additional services, thereby upholding penalty deletion. en-us Tue, 03 Jun 2025 00:00:00 +0530 Mon, 09 Jun 2025 13:13:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772287 ITAT Pune dismissed Revenue's appeal challenging CIT(A)'s deletion of penalty u/s 271D for alleged violation of section 269SS. The case involved a property developer who received Rs. 1,37,73,000 in cash for additional amenities in row houses. ITAT held that since the agreed sale consideration for immovable property transfer was received through banking channels and the additional amount was for interior work beyond the sale agreement, there was no violation of section 269SS. The tribunal concluded that specified sums under section 269SS relate only to consideration for property transfer, not additional services, thereby upholding penalty deletion. Case-Laws Income Tax Tue, 03 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772287