https://www.taxtmi.com/caselaws?id=214139 The court held that Section 206AA of the Income Tax Act, mandating PAN for all transactions, should not apply to individuals with income below the taxable limit. It clarified that the provision would still be applicable to those with income exceeding the taxable limit. The court directed banking institutions not to require PAN from small investors or individuals with limited income when opening accounts. This decision provided relief to such individuals from the burden of mandatory PAN requirement, aligning with the exemption under Section 139A for those below the taxable limit. en-us Tue, 05 Jun 2012 00:00:00 +0530 Fri, 17 Aug 2012 17:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214139 The court held that Section 206AA of the Income Tax Act, mandating PAN for all transactions, should not apply to individuals with income below the taxable limit. It clarified that the provision would still be applicable to those with income exceeding the taxable limit. The court directed banking institutions not to require PAN from small investors or individuals with limited income when opening accounts. This decision provided relief to such individuals from the burden of mandatory PAN requirement, aligning with the exemption under Section 139A for those below the taxable limit. Case-Laws Income Tax Tue, 05 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214139