https://www.taxtmi.com/caselaws?id=463131 The ITAT Cochin held that the assessee did not violate section 269SS despite receiving cash consideration for the sale of immovable property, as the amount was paid in full at the time of registration before the Sub-Registrar. The assessee had furnished all relevant details of the vendee, which were undisputed. Relying on a coordinate bench decision, the tribunal found that such cash receipts constitute reasonable cause under Explanation (iv) to section 269SS. Consequently, no penalty under section 271D was warranted. The appeal was allowed. en-us Wed, 25 Sep 2024 00:00:00 +0530 Thu, 07 Aug 2025 20:34:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463131 The ITAT Cochin held that the assessee did not violate section 269SS despite receiving cash consideration for the sale of immovable property, as the amount was paid in full at the time of registration before the Sub-Registrar. The assessee had furnished all relevant details of the vendee, which were undisputed. Relying on a coordinate bench decision, the tribunal found that such cash receipts constitute reasonable cause under Explanation (iv) to section 269SS. Consequently, no penalty under section 271D was warranted. The appeal was allowed. Case-Laws Income Tax Wed, 25 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463131