Penalty upheld for sec. 269SS violation as assessee failed to prove his innocence

IT: Where revenue authorities concurrently held that there was no reasonable cause on part of assessee to take loan in cash in excess of Rs. 20 thousand inasmuch as story set up by assessee to arrange money in hurry to protect his agricultural land from being sold in open market, was not proved, impugned penalty order passed under section 271D for violating provisions of section 269SS, was to be upheld