Urgency to accept cash payment against sale of property- ITAT deletes penalty

Anuradha Chivukula Challa Vs Additional Commissioner of Income Tax (ITAT Bangalore) The assessee is a NRI. She is depending on her father, who is aged 87 years for negotiations of sale of the properties. The assessee had submitted passport details evidencing the date of arrival and the date of departure. It is relevant to note from the said details that the assessee had arrived in Bangalore on 24.12.2016 and departed from Bangalore on 04.01.2017. The above sale deeds were executed within the said period of 10 days. The properties sold were held by the assessee from the year 1994. The assessee ...