TRUPTI KAMALKANT TIWARI,KATOL, DIST. NAGPUR vs. ITO WARD 3(4), NAGPUR, NAGPUR

ITA 426/NAG/2026Status: DisposedITAT Nagpur10 September 2026AY 2016-173 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal noted that the sale deed was executed in December 2016, falling in AY 2017-18, not AY 2016-17 as considered by the AO. Furthermore, evidence suggested cash receipts were prior to the amendment of Section 269SS, thus no penalty was leviable for the year under consideration.

What were the facts?

The assessee received Rs. 11,00,000/- for the sale of immovable property, with Rs. 2,00,000/- through banking channels and Rs. 9,00,000/- in cash. The Assessing Officer levied a penalty under Section 271D for the cash receipt, considering it a violation of Section 269SS.

What were the issues?

Whether the penalty under Section 271D for cash receipt in property sale is leviable when the transaction falls in a different assessment year and cash receipts predated the relevant statutory amendment.

Which sections of the Income-tax Act were involved?

Section 271D,Section 269SS

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR SMC BENCH, NAGPUR

Before: SHRI MANISH BORAD

For Appellant: Shri Suresh Vallabhanani, CA
For Respondent: Shri Shiv Shankar Yadav, Sr.DR
Hearing: 04/08/2026Pronounced: 10/09/2026

This appeal by the assessee is directed against the order of Ld. Commissioner of Income Tax (Appeals)/NFAC, Delhi (for short, “CIT(A)”) dated 09.03.2026 passed u/sec. 250 of the Income Tax Act, 1961 (for short, “Act”) which is arising out of penalty order dated 30.03.2022 passed u/sec. 271D of the Act for the Assessment Year (A.Y.) 2016-17. 2. Grievance of the assessee revolves around penalty levied u/sec. 271D of the Act at Rs. 9,00,000/- for the alleged cash received from sale of immovable property during the year under consideration.

3.

I have heard the rival submissions and perused the material placed before me. I observe that assessee is an individual and sold immovable property for a consideration of Rs.11,00,000/-. As per the Ld. Assessi

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 271D

All 1,725 judgments and leading authorities on Section 271D →

Recent GST High Court judgments

Search GST case law →