https://www.taxtmi.com/caselaws?id=777865 ITAT DELHI - AT held that penalty under s.271D for alleged breach of s.269SS cannot be sustained because receipt of Rs.26,50,000 in cash by the assessee was not conclusively proved. The revenue failed to examine the purchaser and builders, and a collaboration agreement and industry practice regarding reconstruction supported the assessee's position. On these facts the tribunal deleted the penalty and allowed the assessee's appeal. en-us Wed, 15 Jan 2025 00:00:00 +0530 Sat, 06 Sep 2025 08:16:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777865 ITAT DELHI - AT held that penalty under s.271D for alleged breach of s.269SS cannot be sustained because receipt of Rs.26,50,000 in cash by the assessee was not conclusively proved. The revenue failed to examine the purchaser and builders, and a collaboration agreement and industry practice regarding reconstruction supported the assessee's position. On these facts the tribunal deleted the penalty and allowed the assessee's appeal. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777865