Cash Receipt of Less than Rs. 2L from different Persons on different Dates would not attract S. 269ST of Income Tax Act: ITAT deletes Penalty [Read Order]

By Taxscan Team - On December 5, 2022 2:32 pm - 2 mins read

Cash - Receipt - of - Less - Different - Persons - on - Different - Dates - would - not - attract - of - Income - Tax - Act - ITAT - deletes - Penalty - TAXSCAN

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has deleted a penalty under section 271DA of the Income Tax Act, 1961 by holding that the cash receipt of less than two lakh rupees from different persons on different dates would not attract section 269ST of the Act. The Assessing Officer, during the assessment…

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