https://www.taxtmi.com/caselaws?id=469363 A bona fide and plausible explanation, supported by affidavits and surrounding circumstances, warrants liberal acceptance both for condonation of delay and for resisting penal consequences under section 271D. Here, the explanation for a 366-day delay was accepted because there was no deliberate inaction, so the appeal was admitted on merits. On the penalty issue, the recital of cash consideration in the sale deed was treated as inadvertent, as the parties showed that no cash was actually exchanged and the transfer was within the family; the penalty under section 271D was therefore deleted. en-us Wed, 05 Mar 2025 00:00:00 +0530 Mon, 15 Jun 2026 23:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469363 A bona fide and plausible explanation, supported by affidavits and surrounding circumstances, warrants liberal acceptance both for condonation of delay and for resisting penal consequences under section 271D. Here, the explanation for a 366-day delay was accepted because there was no deliberate inaction, so the appeal was admitted on merits. On the penalty issue, the recital of cash consideration in the sale deed was treated as inadvertent, as the parties showed that no cash was actually exchanged and the transfer was within the family; the penalty under section 271D was therefore deleted. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469363