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Property seller faces tax penalty over Rs 5.22 lakh cash payment in Odisha

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A tax officer in Berhampur was alerted by the Jharsuguda property registrar's office that a man had sold a property and received Rs 5.22 lakh in cash. The registered sale deed itself recorded this cash component. Acting on this information, the Assessing Officer served the seller a notice under Section 269SS of the Income Tax Act. A penalty was then imposed under Section 271DA for accepting the cash amount.

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