Tribunal held that cash was generated only on account of sale of property. In these circumstances Tribunal found that the statutory defence of good and sufficient reasons which is set out in the second proviso to Section 221(1) of the Act operates in favour of the assessee. Accordingly the penalty in the peculiar facts and circumstances of the present case has wrongly been levied and confirmed. Satisfied with the consistent explanation offered before the Tax Authorities, which Tribunal noted has not been assailed or rebutted, Tribunal held that the penalty deserves to be quashed. Ordered accordingly. (AY. 2011-12)