https://www.taxtmi.com/caselaws?id=466955 Tribunal addressed whether cash receipt on sale of agricultural land attracts penalty for prohibited cash advances and whether the seller established reasonable cause to avoid penalty. It applied the principle that bona fide, registered sales disclosed in return and lacking material of mala fide intent or tax evasion can constitute reasonable cause to negate penalty under the statutory penalty regime; accordingly the penalty was deleted on merits. The tribunal also considered limitation, noting statutory extensions that kept the penalty order within the extended period, but this temporal finding did not prevent deletion of the penalty on substantive grounds. en-us Wed, 10 Sep 2025 00:00:00 +0530 Wed, 25 Feb 2026 16:38:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466955 Tribunal addressed whether cash receipt on sale of agricultural land attracts penalty for prohibited cash advances and whether the seller established reasonable cause to avoid penalty. It applied the principle that bona fide, registered sales disclosed in return and lacking material of mala fide intent or tax evasion can constitute reasonable cause to negate penalty under the statutory penalty regime; accordingly the penalty was deleted on merits. The tribunal also considered limitation, noting statutory extensions that kept the penalty order within the extended period, but this temporal finding did not prevent deletion of the penalty on substantive grounds. Case-Laws Income Tax Wed, 10 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466955