![Senior Citizens Bonafide Belief and Ignorance of law is Reasonable Cause u/s 273B: ITAT Deletes Penalty [Read Order]](https://images.taxscan.in/h-upload/2025/10/29/500x300_2100700-senior-citizen-bonafide-ignorance-of-law-reasonable-cause-itat-penalty-taxscan.webp "Senior Citizens Bonafide Belief and Ignorance of law is Reasonable Cause u/s 273B: ITAT Deletes Penalty [Read Order]")
Senior Citizen's Bonafide Belief and Ignorance of law is Reasonable Cause u/s 273B: ITAT Deletes Penalty [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) deleted a penalty of ₹20,00,000/- levied under Section 271D of the Income Tax Act,...
![No Income Tax Penalty Leviable u/s 271D as Assessee did not Violate Section 296SS: ITAT Dismisses Appeal by Revenue [Read Order]](https://images.taxscan.in/h-upload/2025/10/08/250x150_2094853-income-tax-act-cash-transaction-overview-of-cash-transaction-tax-evasion-non-cash-payments-reduce-tax-evasion-cash-transaction-provisions-taxscan.webp "No Income Tax Penalty Leviable u/s 271D as Assessee did not Violate Section 296SS: ITAT Dismisses Appeal by Revenue [Read Order]")
![Revenue Ignores Registry’s Defect Memo and Reminders sent by Registry: ITAT dismisses Revenue’s Appeal [Read Order]](https://images.taxscan.in/h-upload/2025/08/29/250x150_2081839-itat-lucknow-bench-revenues-appeal-revenue-taxscan.webp "Revenue Ignores Registry’s Defect Memo and Reminders sent by Registry: ITAT dismisses Revenue’s Appeal [Read Order]")
![ITAT Deletes Penalty u/s 271D: Penalty Held Invalid as Section 153C Assessment Quashed due to Lack of Incriminating Material [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/ITAT-ITAT-Deletes-Penalty-Penalty-Held-Invalid-Section-153C-Assessment-Quashed-Assessment-Quashed-due-Lack-of-Incriminating-Material-taxscan.jpg "ITAT Deletes Penalty u/s 271D: Penalty Held Invalid as Section 153C Assessment Quashed due to Lack of Incriminating Material [Read Order]")
![Recording of satisfaction u/s 271E insufficient for Income Tax Penalty proceedings u/s 271D: Rajasthan HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/02/Rajasthan-High-Court-Penalty-Income-Tax-taxscan.jpg "Recording of satisfaction u/s 271E insufficient for Income Tax Penalty proceedings u/s 271D: Rajasthan HC [Read Order]")
ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]
The Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ) deletes Rs. 6 lakh penalty on the assessee over an alleged violation of Section 269SS of the Income Tax Act, 1961. In this case,...
![ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Bangalore-ITAT-deletes-bonafide-claim-LTCG-Section-269SS-of-the-Income-Tax-Act-Income-Tax-Appellate-Tribunal-ITAT-news-ITAT-updates-taxscan.jpg "ITAT deletes Rs. 6 lakh penalty u/s 271D due to bonafide claim of LTCG on part of assessee [Read Order]")
AO Cannot Refer File to JC Regarding Penalty u/s 271D of Income Tax without Recording “Satisfaction”: Andhra Pradesh HC
The Andhra Pradesh High Court in its recent ruling has held that an Assessing Officer ( AO ) cannot refer an assessee's file to the Joint Commissioner of Income Tax for levying penalty under Section...
AO’s failure to Record Reasons for Subjective Satisfaction u/s 271 E: Madras HC sets aside Penalty Order [Read Order]
The Madras High Court set aside the penalty order under Section 271E of the Income Tax Act, 1961, due to the Assessing Officer's failure to record reasons for subjective satisfaction.The petitioner...
Cash Transaction for Property Registration: ITAT deletes Section 269SS Income Tax Penalty against Women with Elementary Knowledge [Read Order]
The Bangalore bench of Income Tax Appellate Authority ( ITAT ) deleted the penalty imposed on the assessee, who is a woman with elementary knowledge. The assessee, Pushpalatha had filed her Income...
![Cash Transaction for Property Registration: ITAT deletes Section 269SS Income Tax Penalty against Women with Elementary Knowledge [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-ITAT-Bangalore-Cash-Transaction-Property-Registration-Income-tax-penalty-taxscan.jpg "Cash Transaction for Property Registration: ITAT deletes Section 269SS Income Tax Penalty against Women with Elementary Knowledge [Read Order]")
Burden Shifts on AO to prove that cause Lacks Bonafide when Taxpayer shows reasonable cause for accepting Cash Loan: ITAT
The Chennai Bench of the Income Tax Appellate Tribunal ( ITAT ) held that the burden shifts on the Assessing Officer ( AO ) to prove that cause lacks bonafide when taxpayer shows reasonable cause for...
Imposing Penalty beyond time period prescribed by u/s 275(1) (c) of Income Tax Act: ITAT deletes Penalty on cash receipt of loans
The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) deleted the penalty on cash receipt of loans, citing the imposition of the penalty beyond the time period prescribed by under section...
ITAT Imposes Penalty on Assessee for Violating Section 269SS with Cash Transactions Exceeding Rs.20,000 [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that the assessee not having any reasonable cause for accepting the consideration, which is more than Rs.20,000/- by way of cash...
![ITAT Imposes Penalty on Assessee for Violating Section 269SS with Cash Transactions Exceeding Rs.20,000 [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/ITAT-Penalty-Assessee-Violating-Cash-Transactions-Exceeding-taxscan.jpg "ITAT Imposes Penalty on Assessee for Violating Section 269SS with Cash Transactions Exceeding Rs.20,000 [Read Order]")