2009 (2) TMI 831

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....R Shailendra Kumar Yadav (Judicial Member) 1. All these appeals pertain to same assessee with regards to penalty u/s 272B of the IT Act, so these are being disposed of by a common order for the sake of convenience and brevity. ITA No. 907(BNG.)/2008 2. Facts of this case are that the deductor, M/s D.V.Steel Corporation, filed quarterly statement of TDS in Form No. 26Q for the period en....

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....c.206 to any income tax authority; iv) in all quarterly statements prepared and delivered or caused to be delivered in accordance with the provisions of sub-section(30 of section 200"(w.e.f.1.6.2001). Provision of sec 272B(1) states that if a person fails to comply with the provision of sec. 139A, the AO may direct that such person shall pay, by way of penalty, a sum of Rs. 10,000/-. A....

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....ble. The assessee has no statutory right or power to compel the deductee, to furnish the PAN. Under the circumstances, the non-furnishing of PAN earlier was with reasonable cause, so the penalty in question is to be deleted. On the other hand, learned DR supported the order of the authorities below. 3. We find that the assessee is a partnership firm filed an appeal against the order passed u/s ....

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....t Form No. 60 filed by the customer was duly filled in. Since the furnishing of incomplete declaration by the customer was a mistake committed by the customer and not by the bank, the failure to comply with the provisions of sec.139A as envisaged in section 272B(1) was of the customer and not of the bank. The penalty if any, was to be imposed on the customer and not on the bank. There was no failu....