This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
ITAT Hyderabad Deletes Sec 271D Penalty; Property Sale Cash Not Hit by Sec 269SS
Case Law Details
- Case Name
- Kesireddy Ravinder Reddy Vs ITO (ITAT Hyderabad)
- 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 Hyderabad
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
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 transfer of immovable property, which the JCIT treated as “specified sum” and imposed penalty equal to the cash amount.
T...
Author Info
