ITAT Hyderabad Deletes Sec 271D Penalty; Property Sale Cash Not Hit by Sec 269SS

Kesireddy Ravinder Reddy Vs ITO (ITAT Hyderabad)

ITAT Hyderabad Deletes Sec 271D Penalty – Cash Received as Sale Consideration of Property Not Covered by Sec 269SS

In Kesireddy Ravinder Reddy & Yata Ramchander vs ITO (AY 2017-18), the ITAT Hyderabad allowed the assessees’ appeals and deleted penalty levied u/s 271D for alleged violation of sec 269SS. The assessees had received cash of ₹15.65 lakh (₹7.82 lakh each) as part of registered sale consideration for t

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