https://www.taxtmi.com/caselaws?id=244273 The tribunal upheld the reduction of penalty to Rs. 30,000 per person in accordance with a CBDT clarification, dismissing the revenue's appeal. The penalty under section 272B was deemed person-centric, not tied to the number of defaults in the PAN. The tribunal emphasized that the penalty amount was linked to the individual, as clarified by the CBDT, supporting the decision to reduce the penalty per person per year. en-us Fri, 14 Sep 2012 00:00:00 +0530 Fri, 21 Feb 2014 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244273 The tribunal upheld the reduction of penalty to Rs. 30,000 per person in accordance with a CBDT clarification, dismissing the revenue's appeal. The penalty under section 272B was deemed person-centric, not tied to the number of defaults in the PAN. The tribunal emphasized that the penalty amount was linked to the individual, as clarified by the CBDT, supporting the decision to reduce the penalty per person per year. Case-Laws Income Tax Fri, 14 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244273