No Penalty Imposed for Cash Transactions in Construction Expenses Due to Reasonable Explanation u/s 271D.

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....Levy of penalty u/s 271D - violation of the provisions of section 269SS - payment of construction expenses incurred in cash towards the purchase of construction material and payment to labourers - the assessee has offered reasonable explanation justifying the cash transactions and thus, in the entirety of facts and circumstances of the case and considering various decisions cited at the Bar which also support the case of the assessee - No penalty - AT....