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Cash receipt more than 200000/- limit 269st income tax

This query is : Resolved 
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(Querist)
25 March 2022 Dear experts,
We have issued 340000/- invoice to customer on 18/3/22 and received 250000/- as cash on 23/3/22 and out of that few items returned by customer amounted to Rs 130000/- on 24/3/22 and again invoiced around Rs 130000/- on same day. I would like to know by splitting cash receipt 250000/- to 190000/- in a day and in another day 60000/- whether we can avoid penalty as per the sec 269st income tax? or what to be done in this matter . kindly suggest

Thanks in advance
Regards
Rajesh
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 March 2022 You can't avoid penalty by splitting cash receipt.
Receipt on single invoice exceed 2 lacs.
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