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2014 (5) TMI 117 - ITAT CHANDIGARHPenalty u/s 272B of the Act – Failure to comply section 139A of the Act – TDS deduction from the payment made to employees - Default in quoting of PAN numbers of the deductees in the e-TDS quarterly statement – Held that:- There was reasonable cause justifying non levy of penalty u/s 272B of the Act - In respect of 34 deductees, there is no default on the part of the assessee as the payments to made were below the limits on which no tax had to be deducted - there was no requirement of furnishing PAN numbers in respect of such 34 deductees - In respect of 10 deductees correct PAN numbers were available and once the information is available with the assessee and given effect to, the assessee is not exigible to levy of penalty u/s 272B of the Act – the claim of the assessee needs verification at the level of the AO – thus, the matter is remitted back to the AO for fresh adjudication – Decided in favour of Assessee.
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