KESIREDDY RAVINDER REDDY,HYDERABAD vs. ITO WARD-11(1), HYDERABAD

ITA 1617/HYD/2025Status: DisposedITAT Hyderabad11 February 2026AY 2017-1832 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that cash received as part of the sale consideration for the transfer of immovable property, as acknowledged in the registered sale deed, does not fall within the ambit of Section 269SS. Consequently, the penalty levied under Section 271D was not sustainable.

What were the facts?

The assessees transferred an immovable property and received a significant portion of the sale consideration in cash. Penalty proceedings were initiated under Section 271D for alleged violation of Section 269SS, which prohibits cash transactions above a certain limit for property transfers.

What were the issues?

Whether cash received as part of sale consideration for immovable property violates Section 269SS, and if penalty under Section 271D is valid without prior assessment proceedings or satisfaction recorded by the AO.

Which sections of the Income-tax Act were involved?

Section 271D,Section 269SS,Section 275,Section 274

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad ‘B’ Bench, Hyderabad

Before: SHRI VIJAY PAL RAO & SHRI MANJUNATHA G.

Hearing: 19.01.2026

PER VIJAY PAL RAO, VICE PRESIDENT :

These two appeals by two related assessees are directed against the two separate Orders of the learned CIT(A) dated 04.08.2025 and 02.10.2025 arising from penalty order passed u/sec.271D respectively, for the assessment year 2017-2018. 2. The assessees have raised identical grounds in these appeals. For the purpose of recording the facts the appeal ITA.No.1617/Hyd./2025 is taken as “lead” case. The assessee has raised the following grounds in

The order continues below.

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