https://www.taxtmi.com/highlights?id=94221 Levy of penalty on PNB under PMLA - AT allowed the appeal in part. The Tribunal upheld findings of non-compliance with Section 12(1) read with applicable Rules but reduced certain delays and struck down an unsustainable penalty methodology. CTR delays were reduced from 151 to 38 months; penalty of Rs.3,80,000 (Rs.10,000/month) plus Rs.1,00,000 for deficient internal controls was sustained. Penalty of Rs.22,40,000 imposed for delayed STRs was set aside as incorrectly calculated per report. Penalty of Rs.14,57,70,000 for non-filing of NTRs (Rs.10,000 per transaction) was upheld; the additional Rs.1,00,000 internal-control penalty was dispensed with. Penalty of Rs.27,00,000 for delayed CBWTRs was affirmed; repetitive internal-control penalty dispensed. Penalty under Section 12A was sustained. en-us Mon, 17 Nov 2025 08:36:48 +0530 Mon, 17 Nov 2025 08:36:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=94221 Levy of penalty on PNB under PMLA - AT allowed the appeal in part. The Tribunal upheld findings of non-compliance with Section 12(1) read with applicable Rules but reduced certain delays and struck down an unsustainable penalty methodology. CTR delays were reduced from 151 to 38 months; penalty of Rs.3,80,000 (Rs.10,000/month) plus Rs.1,00,000 for deficient internal controls was sustained. Penalty of Rs.22,40,000 imposed for delayed STRs was set aside as incorrectly calculated per report. Penalty of Rs.14,57,70,000 for non-filing of NTRs (Rs.10,000 per transaction) was upheld; the additional Rs.1,00,000 internal-control penalty was dispensed with. Penalty of Rs.27,00,000 for delayed CBWTRs was affirmed; repetitive internal-control penalty dispensed. Penalty under Section 12A was sustained. Highlights Money Laundering Mon, 17 Nov 2025 08:36:48 +0530 https://www.taxtmi.com/highlights?id=94221