https://www.taxtmi.com/caselaws?id=794010 Penalty under section 271D for alleged contravention of section 269SS was held unsustainable where the record showed only a small cash receipt and the balance was received through banking channels. The assessee's explanation that the ledger narration contained a clerical error, supported by bank account details, was found plausible, and the authorities had not properly verified the source of the later transfers. On these facts, reasonable cause under section 273B was established, so the penalty was not leviable and was deleted. en-us Wed, 24 Jun 2026 00:00:00 +0530 Sat, 27 Jun 2026 08:33:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794010 Penalty under section 271D for alleged contravention of section 269SS was held unsustainable where the record showed only a small cash receipt and the balance was received through banking channels. The assessee's explanation that the ledger narration contained a clerical error, supported by bank account details, was found plausible, and the authorities had not properly verified the source of the later transfers. On these facts, reasonable cause under section 273B was established, so the penalty was not leviable and was deleted. Case-Laws Income Tax Wed, 24 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794010