PAN number is compulsory for TDS Return except reasonable cause involved and penalty under sec 272B cannot attract in such cause
Last updated: 19 January 2012
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
Briefly stated the facts are as under. The assessee is a cooperative bank engaged in the banking business. For the first quarter of financial year 2007-08, the assessee has filed its TDS returns without quoting the PAN numbers of deductees in 1933 cases. In view of the A.O. it is very much essential on the part of the assessee to quote the PAN numbers of all the deductees in the TDS return filed. The A.O., therefore, proceeded to levy the penalty u/s.272B of the Act and issued the show cause notice to the assessee.
Citation :
ITO, TDS-II Gr. Floor, Quereshi Mansion, Gokhale Road, Naupada,Thane (W) ......…. Appellant Vs The Thane Janata Sahakari Bank Ltd.Anant Laxmi Chambers,Gokhale Road, Naupada, Thane (W),Dist. Thane .....… Respondent
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CS Bijoy
Published in Income Tax
Views : 3484
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