Topic

cash transaction penalty

2 articlesLatest May 2026
Section 269SS IT Act | Cash Repayment of Prior Advances Not 'Deposit' Under Section 269SS; Penalty Under Section 271D Invalid Without Natural Justice : ITAT Kolkata
Case Law Analysis
|Income Tax Appellate Tribunal

Section 269SS IT Act | Cash Repayment of Prior Advances Not 'Deposit' Under Section 269SS; Penalty Under Section 271D Invalid Without Natural Justice : ITAT Kolkata

ITAT Kolkata rules that cash repayments of prior advances do not constitute 'deposits' under Section 269SS of the Income Tax Act, setting aside penalties imposed under Section 271D. The Tribunal emphasized the violation of natural justice principles, remanding the case for a fresh hearing with an opportunity for the assessee to present evidence.

Section 271DA IT Act | Payment of Tax to Avoid Litigation Not Admission of Violation, Penalty Deletion Upheld : ITAT Delhi
Case Law Analysis
|Income Tax Appellate Tribunal

Section 271DA IT Act | Payment of Tax to Avoid Litigation Not Admission of Violation, Penalty Deletion Upheld : ITAT Delhi

ITAT Delhi rules that payment of tax on undisclosed cash receipts to preempt litigation does not constitute an admission of violation under Section 271DA. The tribunal deleted the penalty, reinforcing that tax compliance alone cannot be construed as acknowledgment of wrongdoing, impacting taxpayers facing similar disputes.

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