Trupti Kamalkant Tiwari vs ITO, Ward-3(4), Nagpur

Parties Involved

Facts Summary

The assessee, Trupti Kamalkant Tiwari, has filed an appeal against the order of the Commissioner of Income Tax (Appeals)/NFAC, Delhi, dated 09.03.2026, which upheld a penalty order dated 30.03.2022 under section 271D of the Income Tax Act, 1961, for the Assessment Year 2016-17. The penalty was levied for the cash received from the sale of immovable property amounting to Rs. 9,00,000/-. The assessee sold the property for Rs. 11,00,000/- and received Rs. 2,00,000/- through cheques and the remaining Rs. 9,00,000/- in cash. The Assessing Officer invoked section 269SS of the Act and levied the penalty for the cash receipt of Rs. 9,00,000/-.…

Legal Issues

• 1. Whether the penalty levied under section 271D of the Income Tax Act, 1961, for the cash receipt of Rs. 9,00,000/- is justified.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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