https://www.taxtmi.com/caselaws?id=782485 Cash received as earnest money was held not to fall within the mischief of section 269SS because it was explained as temporary parking of sale proceeds by an agriculturist father without an operating bank account, and that explanation was not rebutted by the Revenue. On those facts, the receipt was not established as a loan or deposit, so the foundation for penalty under section 271D failed and the penalty was deleted. en-us Tue, 04 Nov 2025 00:00:00 +0530 Mon, 01 Dec 2025 08:50:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782485 Cash received as earnest money was held not to fall within the mischief of section 269SS because it was explained as temporary parking of sale proceeds by an agriculturist father without an operating bank account, and that explanation was not rebutted by the Revenue. On those facts, the receipt was not established as a loan or deposit, so the foundation for penalty under section 271D failed and the penalty was deleted. Case-Laws Income Tax Tue, 04 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782485