Income Tax update:
No Penalty can be levied for wrong/non furnishing of PAN in TDS return if Asseee files later revised return with Correct PAN. The ITAT concluded that it is apparent from the record that the assessee deducted TDS correctly and revised the PAN and filed revised statement in Form No. 26Q, hence there was sufficient compliance of the provisions of section 139A of the Act. If there was reasonable cause for alleged failure, no penalty can be levied. -ITO (TDS) Panchkula v. Bharat Electronics Ltd. (ITAT Chandigarh)
No Penalty can be levied for wrong/non furnishing of PAN in TDS return if Asseee files later revised return with Correct PAN. The ITAT concluded that it is apparent from the record that the assessee deducted TDS correctly and revised the PAN and filed revised statement in Form No. 26Q, hence there was sufficient compliance of the provisions of section 139A of the Act. If there was reasonable cause for alleged failure, no penalty can be levied. -ITO (TDS) Panchkula v. Bharat Electronics Ltd. (ITAT Chandigarh)
No comments:
Post a Comment