https://www.taxtmi.com/caselaws?id=179434 The Tribunal upheld the CIT (Appeals) decision to reduce the penalty under section 272B of the Income Tax Act, 1961 from Rs. 5,30,000 to Rs. 10,000 for non-quoting/wrong quoting of PANs in TDS Returns. Despite the Bank's efforts to collect PANs, the Tribunal found no reasonable cause for the default, dismissing both the Revenue's appeal and the Bank's Cross Objection. The penalty of Rs. 10,000 was affirmed, with the decision rendered on July 15, 2013. en-us Mon, 15 Jul 2013 00:00:00 +0530 Tue, 01 Mar 2016 17:26:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179434 The Tribunal upheld the CIT (Appeals) decision to reduce the penalty under section 272B of the Income Tax Act, 1961 from Rs. 5,30,000 to Rs. 10,000 for non-quoting/wrong quoting of PANs in TDS Returns. Despite the Bank's efforts to collect PANs, the Tribunal found no reasonable cause for the default, dismissing both the Revenue's appeal and the Bank's Cross Objection. The penalty of Rs. 10,000 was affirmed, with the decision rendered on July 15, 2013. Case-Laws Income Tax Mon, 15 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179434