ITAT deletes Section 271D Penalty for Assessee with Majority Cheque Payments in Property Sale

Noordeen Ahmed Amina Vs ITO (ITAT Chennai) The case of Noordeen Ahmed Amina vs ITO centers around an appeal against the confirmation of penalty under section 271D for Assessment Year 2018-19. The penalty was levied by the Assessing Officer (AO) under the belief that the assessee received Rs.5 lakh in cash for the sale of immovable property, in violation of Section 269SS. The appellant, Noordeen Ahmed Amina, appealed against the penalty levied by the AO under section 271D for accepting Rs.5 lakh in cash as part of the sale consideration for immovable property valued at Rs.50 lakh. The AO deemed...