Case Law Analysis
|Income Tax Appellate Tribunal
Section 269SS IT Act | Cash Receipt During Property Registration Exempt Under Exception (iv) : ITAT Delhi Deletes Penalty Under Section 271D
ITAT Delhi rules that cash received at the time of property registration does not violate Section 269SS if it falls under Explanation (iv) of the Income Tax Act. The tribunal deleted the penalty under Section 271D, emphasizing the exception for transactions during property sales, offering relief to taxpayers facing similar penalties.