https://www.taxtmi.com/caselaws?id=767064 ITAT Pune reduced penalty under section 272B(2) from Rs. 23,20,000 to Rs. 10,000 for assessee's failure to obtain/inform department of PAN details for 232 customers. The assessee argued reasonable cause as PAN requirement was newly introduced in 2016-17 and constituted single offence, not 232 separate defaults. ITAT relied on DHTC Logistic Ltd. precedent and noted that for similar 91 defaults, only Rs. 10,000 penalty was imposed earlier, concluding multiple defaults should be treated as single offence before 2019 amendment. en-us Wed, 05 Mar 2025 00:00:00 +0530 Mon, 10 Mar 2025 08:42:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767064 ITAT Pune reduced penalty under section 272B(2) from Rs. 23,20,000 to Rs. 10,000 for assessee's failure to obtain/inform department of PAN details for 232 customers. The assessee argued reasonable cause as PAN requirement was newly introduced in 2016-17 and constituted single offence, not 232 separate defaults. ITAT relied on DHTC Logistic Ltd. precedent and noted that for similar 91 defaults, only Rs. 10,000 penalty was imposed earlier, concluding multiple defaults should be treated as single offence before 2019 amendment. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767064