Penalty u/s. 271D - receipt of cash in relation to transfer of ...

Penalty Avoided for Cash Deposit in Property Deal; No Section 271D Violation as Funds Deposited in Bank Account.

December 6, 2023

Case Laws Income Tax AT

Penalty u/s. 271D - receipt of cash in relation to transfer of immovable property - The objective of the amendment proposed in 269SS of the Act is to curb generation of black money. In the instant case the fact is that cash received by the assessee has been deposited by the assessee into the bank account, hence does not attract the provisions of section 269SS - No penalty - AT

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Penalty u/s. 271D - receipt of cash in relation to transfer of ...

Penalty Avoided for Cash Deposit in Property Deal; No Section 271D Violation as Funds Deposited in Bank Account.

December 6, 2023

Case Laws Income Tax AT

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