show cause noticeu/s272 B(2) of i.t.act

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This query is : Resolved

snpathak (Querist)

24 February 2011 Assessee's counsel has quoted wrong panin the return of a.y.2009-2010.the ld asstt commissioner has sent ashow cause notice to the assessee as to why not penalty u/s 272B(2) OF RS 10000/-MAY NOT BE IMPOSED UPON YOU. Please give me a reply of the above show cause notice.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

25 February 2011 Filling out PAN in the Return of income is mandatory as per section 139A(5). Section 272B of the I T Act prescribes that in case a person fails to comply with section 139A may be asked to pay a penalty of Rs 10,000/-. You have filled the PAN , but the PAN is wrong . In this case , penalty is not imposable as per the wordings of the said section.
However,you may intimate the A.O in writing that your PAN is wrongly given in the return by an honest mistake and that the correct PAN is as per the letter.

Surrender

Surrender (Expert)

25 February 2011 That is the simple compliance of the SCN to explain true happening of wrong PAN written on the Return and inform the Assessing Authority of your correct PAN seeking pardon for such unintended genuine error without mens rea;

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