https://www.taxtmi.com/caselaws?id=797850 Cash sale consideration accepted in contravention of Section 269SS may not attract penalty under Section 271D where reasonable cause is established. Relevant circumstances include fragmented family ownership, agricultural background, urgency to sell, purchaser insistence on cash, bona fide ignorance of the restriction, and full disclosure of consideration for tax purposes. Consistent treatment of co-owners involved in the same land-sale transaction also supports parity. These factors support deletion of the penalty where they collectively demonstrate reasonable cause. en-us Fri, 21 Aug 2026 00:00:00 +0530 Fri, 28 Aug 2026 20:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797850 Cash sale consideration accepted in contravention of Section 269SS may not attract penalty under Section 271D where reasonable cause is established. Relevant circumstances include fragmented family ownership, agricultural background, urgency to sell, purchaser insistence on cash, bona fide ignorance of the restriction, and full disclosure of consideration for tax purposes. Consistent treatment of co-owners involved in the same land-sale transaction also supports parity. These factors support deletion of the penalty where they collectively demonstrate reasonable cause. Case-Laws Income Tax Fri, 21 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797850