Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2012 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (9) TMI 151 - AT - Income TaxPenalty u/s 272B - default u/s 139A(5B) - quotation of invalid PAN of deductees in TDS returns - Held that:- In the instant case, it is an undisputed fact that the amount of tax deducted at source by the assessee was deposited within time allowed under the relevant provisions of the Act. There was no revenue loss to the Income Tax department. It is also an admitted position that the assessee also submitted revised statement in Form No. 24Q on 16.09.2010. The assessee did not derive any benefit whatsoever by filing invalid PAN and PAN was corrected after ascertaining the same from the respective deductees. Even otherwise also, no penalty is leviable when there is a technical or venial breach of the Act - Decided in favor of assessee.
|