This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT Relieves Senior Citizen from Section 271D Penalty on Property Sale Cash
Case Law Details
- Case Name
- Maheshwarappa Muniramu Vs JCIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Bangalore
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Maheshwarappa Muniramu Vs JCIT (ITAT Bangalore)
ITAT Bangalore Deletes Penalty u/s 271D on Cash Receipt from Property Sale – Reasonable Cause Established- Section 273B Relief Applied- Senior Citizen’s Bona Fide Belief Saves from Penalty on Cash Transaction- ITAT: Penalty Not Automatic – Genuine Transaction Exempted from 271D
Bangalore ITAT considered levy of penalty u/s 271D for alleged violation of Section 269SS on receipt of cash.
Assessee, a senior citizen aged 82, along with his son sold immovable property for ₹85,43,100 on 30/06/2016. Out of his 50% share, he received ₹10,00,000...
Author Info
