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Certified by the department of income tax, W4I has emerged as India’s most trusted e-filing website, offering customized solutions to its clients in all financial matters. Its seamless process of on –line filing of income tax returns ensures a hassle free filing of tax returns in the minimum possible time. The high level of service delivery is intended to transform the ITR-e filing and wealth mana
27/05/2026
Cash Received on Property Sale: Can Section 271D Penalty Apply? ITAT Hyderabad Gives Major Relief - If cash is received as part of the sale consideration at the time of registration of a sale deed, can the Income Tax Department levy penalty under Section 271D for violation of Section 269SS? ITAT Hyderabad in Mohammed Shabbir Bhojani vs ITO deleted Section 271D penalty, holding that cash received as final property sale consideration at registration does not attract Section 269SS penalty where no AO satisfaction was recorded. The Tribunal deleted the penalty of ₹36,00,000 under Section 271D and gave an important ruling on the scope of Section 269SS in immovable property transactions.
Cash Received on Property Sale: Can Section 271D Penalty Apply? - CA ALOK KUMAR ITAT Hyderabad in Mohammed Shabbir Bhojani vs ITO deleted Section 271D penalty, holding that cash received as final property sale consideration at registration does not attract Section 269SS penalty where no AO satisfaction was recorded.
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