REETA SINGH,BOKARO vs. ITO WARD 3(1), BOKARO/, BOKARO

IN THE INCOME TAX APPELLATE TRIBUNAL, RANCHI BENCH, RANCHI BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI RATNESH NANDAN SAHAY, ACCOUNTANT MEMBER ITA No. 154/Ran/2026 (Assessment Year: 2016-17) Reeta Singh, I.T.O., Shanti Mansion Kunwar Singh Colony, Ward 3(1), Vs. CHAS, Chas S.O. (Bokaro)-827013 Bokaro. (Jharkhand) PAN No. CUBPS 1468 M Appellant/ Assessee Respondent/ Revenue

Assessee represented by Shri Raju Prasad, AR. Department represented by Shri Sandipan Khan, Sr.DR Date of hearing 30/07/2026 Date of pronouncement 30/07/2026 O R D E R PER: BENCH 1. This is the appeal filed by the assessee against confirmation of penalty levied under Section 271D of the Income Tax Act, 1961 (in short, the Act) passed by the ld. CIT(A), NFAC, Delhi in Appeal No. NFAC/2015-16/10408586 dated 22/01/2026 for the A.Y. 2016-17. 2. Shri Raju Prasad, ld. A.R. is represented on behalf of the assessee and Shri Sandipan Khan, ld. Sr.DR is represented on behalf of the revenue. 3. It was submitted by the ld. AR that the assessee had sold an immovable property representing agricultural land for a consideration of Rs. 90.24 lacs and the cost of the compound wall, the assessee had received an amount of Rs. 1.00 crore in the form of two cheques on 10/06/2015. The ld. AR has placed before

ITA No. 154/Ran/2026 Reeta Singh Vs ITO us the copy of the bank account where the said cheques are shown as by clearing, the same reads as follows:

It was the submission that as the sale deed of the property referred to a term "Nagad", it was assumed that the assessee has received cash as the sale consideration and consequently, the Assessing Officer had initiated proceedings under Section 269SS of the Act and on violation of the said provision levied

ITA No. 154/Ran/2026 Reeta Singh Vs ITO penalty under Section 271D of the Act. It was the submission that as the assessee has received the sale consideration by cheque only and not the cash, the penalty as levied may be deleted. 4. In reply, the ld. Sr.DR supported the orders of the lower authorities. 5. We have considered the rival submissions. A perusal of the facts in the present case clearly shows that the assessee has received Rs. 1.00 crore in two cheques of Rs. 50.00 lacs each and the same was also recorded in the bank account of the assessee. This fact has not been controverted. This being so, as the assessee has received the sale consideration by cheques, the provisions of Section 269SS or 271D does not apply. Consequently, the penalty as levied by the Assessing Officer and as confirmed by the ld. CIT(A) stands deleted. 6. In the result, this appeal of the assessee is allowed. Order pronounced in open court on 30/07/2026.

Sd/- Sd/- (RATNESH NANDAN SAHAY) (GEORGE MATHAN) ACCOUNTANT MEMBER JUDICIAL MEMBER Ranchi, Dated: 30/07/2026 *Ranjan Copy to: 1. Assessee 2. Revenue 3. CIT 4. DR By order 5. Guard File Sr. Private Secretary, ITAT, Ranchi