A person was having two PAN, in year 2012 he himself surrenderd one PAN and got letter from Income Tax Department stating not to use the Surrendered PAN. Unfortunately the PAN was not canceled by Income Tax Department and now the department issued notice u/s 148 to the assessee, demanding file the return on surrendered PAN and pay tax on the same but assessee had already paid all the tax through another PAN. Fact - Due to some reason the another PAN (Other than surrendered PAN) was not updated on Mutual Funds and there were transaction of approximately 20 lakhs on that mutual funds, the department issued notice based on such transctions and we have shown all the source of such transaction, letter from Income Tax Department and Return of another PAN showing all taxable income is taken on another PAN but the Assessing Officer is not satisfying. Can anyone give me any solution how to deal with this ?
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