Section 269SS non-compliance due to bonafide belief: Section 271D Penalty deleted

Rakesh Ganapathy Vs JCIT (ITAT Bangalore) ITAT Bangalore held that penalty under section 271D of the Income Tax Act not imposable for acceptance of cash on transfer of agricultural land as non-compliance with section 269SS of the Income Tax Act was due to bonafide belief. Facts- Assessment order was passed u/s 143(3) of the Act in the case of assessee on 30.4.2019. The AO after carefully examining the details furnished by the assessee completed the assessment by accepting the return of income. Thereafter, to the surprise of the assessee, after a gap of more than 3 years ld. JCIT Range-4 (3) Ba...