YASHBIZ MARKETING PRIVATE LIMITED,AHMEDABAD vs. THE ITO, WARD-4(1)(1), AHMEDABAD

ITA 2364/AHD/2025Status: DisposedITAT Ahmedabad25 September 2026AY 2022-234 pages
AI SummaryAllowed

What were the facts?

The assessee company received cash deposits directly into its bank accounts from customers, despite instructions to use banking channels. The Assessing Officer levied a penalty under Section 271DA for accepting cash exceeding the prescribed limit, which was confirmed by the CIT(A).

What did the Tribunal hold?

The Tribunal held that the penalty under Section 271DA was not sustainable. It was found that the cash was deposited directly by customers into the assessee's bank account and not physically received by the assessee, and there was no intentional contravention of Section 269ST.

What were the issues?

Whether penalty under Section 271DA is leviable when cash is deposited directly into the bank account by customers and not physically received by the assessee. Whether there was a "good and sufficient reason" for non-compliance with Section 269ST.

Which sections of the Income-tax Act were involved?

Section 271DA,Section 269ST,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, AHMEDABAD

Before: Shri Sanjay Garg & Shri Narendra Prasad Sinha

For Appellant: Shri Jaimin Shah, AR
Hearing: 07/07/2026Pronounced: 25/09/2026

Per Sanjay Garg, Judicial Member:

The present appeal has been preferred by the assessee against the order of the Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as ‘Ld. CIT(A)’] dated 01/09/2025 passed u/s. 250 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for the Assessment Year (AY) 2022-2023. 2. The assessee has raised the following grounds of appeal:

“…01. That the Ld. CIT(A) has erred both in law and on facts while sustaining the p

The order continues below.

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