https://www.taxtmi.com/caselaws?id=792981 Penalty under section 271D was unsustainable where cash formed part of a genuine, registered property sale, the consideration was fully disclosed, and no sham or unaccounted money was shown; the assessee's bona fide conduct and practical payment difficulty supported relief, so the penalty failed on merits. The proceedings also failed because the notice referred to section 271DA read with section 269ST, while the penalty was ultimately imposed under section 271D for an alleged section 269SS breach; the mismatch was a defect going to the root of jurisdiction. The penalty demand was deleted. en-us Thu, 04 Jun 2026 00:00:00 +0530 Sat, 06 Jun 2026 08:42:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792981 Penalty under section 271D was unsustainable where cash formed part of a genuine, registered property sale, the consideration was fully disclosed, and no sham or unaccounted money was shown; the assessee's bona fide conduct and practical payment difficulty supported relief, so the penalty failed on merits. The proceedings also failed because the notice referred to section 271DA read with section 269ST, while the penalty was ultimately imposed under section 271D for an alleged section 269SS breach; the mismatch was a defect going to the root of jurisdiction. The penalty demand was deleted. Case-Laws Income Tax Thu, 04 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792981