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2011 (9) TMI 1102 - AT - Income TaxPenalty u/s 272B - default u/s 139A(5B) - Omitted to quote PAN/has quoted invalid PAN in 77 cases - Held that:- In the instant case, it is apparent from the record that the assessee deducted TDS correctly and revised the PAN and filed revised statement in Form No. 26Q, hence there was sufficient compliance of the provisions of section 139A of the Act. Even otherwise the assessee did not derive any benefit whatsoever, by filing the wrong PANs and PAN was corrected after ascertaining the same from the respective deductees. In our view the assessee has proved that there was reasonable cause for alleged failure and hence no penalty is leviable. Even otherwise also no penalty is leviable when there is a technical or venial breach of the Act. Appeal filed by the Revenue is dismissed.
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