https://www.taxtmi.com/caselaws?id=468561 Receipt of sale consideration in cash beyond the statutory limit attracted the cash transaction bar under Section 269SS, and in the absence of reasonable cause the penalty under Section 271D was correctly levied. The Tribunal noted that the cash receipt was admitted and that the assessee's role in the transfer arrangement was substantive, not limited to a bare power-of-attorney holder. The appellate enhancement of the penalty was also upheld because notice of enhancement had been issued and the increase was based on the admitted receipt. The penalty was sustained in full and the appeal failed. en-us Thu, 21 Sep 2023 00:00:00 +0530 Wed, 13 May 2026 12:28:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468561 Receipt of sale consideration in cash beyond the statutory limit attracted the cash transaction bar under Section 269SS, and in the absence of reasonable cause the penalty under Section 271D was correctly levied. The Tribunal noted that the cash receipt was admitted and that the assessee's role in the transfer arrangement was substantive, not limited to a bare power-of-attorney holder. The appellate enhancement of the penalty was also upheld because notice of enhancement had been issued and the increase was based on the admitted receipt. The penalty was sustained in full and the appeal failed. Case-Laws Income Tax Thu, 21 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468561