Reasonable Cause Saves Assessee – ITAT Hyderabad Deletes Penalty u/s 271D on Cash Sale of Agricultural Land in Smt. Nimmatoori Yashoda vs DCIT
The Hyderabad Bench of the Income Tax Appellate Tribunal (ITAT) recently dealt with the issue of penalty under section 271D of the Income-tax Act, 1961, in the case of Smt. Nimmatoori Yashoda vs DCIT. The assessee had received substantial cash consideration on sale …
