2012 (11) TMI 1153 - AT - Income Tax

Appeal success: Corrected penalty amount for PAN non-quoting in e-TDS.

Advanced Micro devices Pvt. Ltd. Versus The Income Tax Officer (TDS) Panchkula

The appeal was filed against a penalty imposed under section 272B of the Income Tax Act, 1961 for not quoting PAN numbers of deductees in the e-TDS ... - Issues involved: Appeal against penalty u/s 272B of the Income Tax Act, 1961 for default in quoting PAN numbers of deductees in e-TDS quarterly statement.Summary:Issue 1: Levy of penalty u/s 272B for default in quoting PAN numbersThe appeal was filed against the penalty imposed u/s 272B of the Income Tax Act, 1961 for not quoting PAN numbers of six deductees in the e-TDS quarterly statement. The Assessing Officer held the assessee liable and imposed a penalty of &8377;60,000, which was upheld by the CIT (Appeals). The provisions of section 272B (1) state that failure to comply with Section 139A may result in a penalty of &8377;10,000. The first ground of appeal was dismissed, but the alternate plea in ground No. 2 was allowed.Issue 2: Correct application of penalty amountThe appellant contended that the penalty amount imposed was &8377;60,000 instead of the prescribed &8377;10,000 u/s 272B. The appeal challenged this discrepancy, and the Tribunal partially allowed the appeal, recognizing the error in the penalty amount imposed.In conclusion, the appeal was partly allowed, addressing the issues raised regarding the penalty u/s 272B for the default in quoting PAN numbers in the e-TDS quarterly statement. The Tribunal clarified the correct application of the penalty amount as per the provisions of the Income Tax Act, 1961.Order pronounced in the open Court on 26th day of November, 2012.