https://www.taxtmi.com/caselaws?id=180462 The Tribunal upheld the reduction of penalties under section 272B of the Income-tax Act for non/quoting of PANs in TDS returns for AY 2006-07. The ld. CIT(A)'s decision to reduce the penalty to &8377; 10,000 per default was affirmed, rejecting the Department's argument for a penalty of &8377; 10,000 per default. The Tribunal held that Section 272B does not allow for penalties per default, leading to the dismissal of the Department's appeal on 5.12.2011. en-us Mon, 05 Dec 2011 00:00:00 +0530 Fri, 25 Mar 2016 14:15:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180462 The Tribunal upheld the reduction of penalties under section 272B of the Income-tax Act for non/quoting of PANs in TDS returns for AY 2006-07. The ld. CIT(A)'s decision to reduce the penalty to &8377; 10,000 per default was affirmed, rejecting the Department's argument for a penalty of &8377; 10,000 per default. The Tribunal held that Section 272B does not allow for penalties per default, leading to the dismissal of the Department's appeal on 5.12.2011. Case-Laws Income Tax Mon, 05 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180462