https://www.taxtmi.com/caselaws?id=777540 ITAT (Chennai) dismissed Revenue's appeal and upheld the CIT(A)'s deletion of penalty under s.271D, holding Revenue failed to prove acceptance of cash in contravention of s.269SS. The Tribunal found no material evidence in the assessment or penalty orders showing cash receipt; AO relied on generalized practices and circumstantial inferences without a DVO valuation report or concrete proof. Consequently, the imposition of penalty under s.271D was not justified and the appellate order deleting the penalty was sustained. en-us Wed, 20 Aug 2025 00:00:00 +0530 Mon, 01 Sep 2025 08:13:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777540 ITAT (Chennai) dismissed Revenue's appeal and upheld the CIT(A)'s deletion of penalty under s.271D, holding Revenue failed to prove acceptance of cash in contravention of s.269SS. The Tribunal found no material evidence in the assessment or penalty orders showing cash receipt; AO relied on generalized practices and circumstantial inferences without a DVO valuation report or concrete proof. Consequently, the imposition of penalty under s.271D was not justified and the appellate order deleting the penalty was sustained. Case-Laws Income Tax Wed, 20 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777540