2011 (12) TMI 581

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....hok Goyal ORDER D K Srivastava: The appeal filed by the Department is directed against the order passed by the ld. CIT(A) on 5.8.2011 by which he has reduced the amount of penalty levied by the AO u/s 272B of Income-tax Act, 1961, on the following grounds: "1On the facts and circumstances of the case, the ld. CIT(A) has erred in law in giving relief in the penalty levied u/s 272B of the I....

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....f the AO may be restored. 5.The appellant craves leave to add or amend any grounds of appeal before the appeal is heard." 2.Briefly stated the facts of the case are that the AO perused the quarterly return of deduction of tax at source in form No. 24Q for financial year 2005-06 and noticed that the assessee had not quoted PAN at all or has quoted invalid PAN in 37 cases in the said Form file....

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....on discussed above the penalty is levied u/s 272B at Rs. 10,000/- each in AY 2009-10 and 2006-07.  As a result the appellant gets relief of Rs. 1,80,000/- in AY 2009-10 and Rs. 3,60,000/- in AY 2006-07." 4.Aggrieved by the order passed by the ld. CIT(A), the Department is in appeal before this Tribunal.  It is the case of the Department that the AO has correctly levied the penalty @ R....