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The Tax Publishers Punjab National Bank v. JCIT [ITA No. 779/Chd/2015, dt. 3-5-2016] : 2016 TaxPub(DT) 2721 (Chd-Trib) Penalty under section 272A(2)(k) *Facts:* Assessee did not file the quarterly TDS return in Form 28Q despite having deducted the TDS. Thus penalty was levied on 25-9-2012. The plea of the assessee was departmental circular confirmed that TDS returns without PAN of at least 70% will not be accepted, since they did not have the PAN nos. on time they could file the return. This did not find merit with Commissioner (Appeals) who confirmed the penalty and thus assessee went in appeal: Held in favour of the assessee that the non-availability of PAN nos. was a reasonable cause thus exonerated the assessee from the levy of penalty. The below clause (k), if such failure relates to a statement referred to in section 200(3) or the proviso to section 206(C)(3) which is to be delivered or caused to be delivered for tax deposited at source or tax collected at source, as the case may be on or after 1-7-2012. Since the penalty order was dated 25-9-2012, technically also it could not be sustained.

The Tax Publishers

Punjab National Bank v. JCIT [ITA No. 779/Chd/2015, dt. 3-5-2016] : 2016 TaxPub(DT) 2721 (Chd-Trib)

Penalty under section 272A(2)(k)

Facts:

Assessee did not file the quarterly TDS return in Form 28Q despite having deducted the TDS. Thus penalty was levied on 25-9-2012. The plea of the assessee was departmental circular confirmed that TDS returns without PAN of at least 70% will not be accepted, since they did not have the PAN nos. on time they could file the return. This did not find merit with Commissioner (Appeals) who confirmed the penalty and thus assessee went in appeal:

Held in favour of the assessee that the non-availability of PAN nos. was a reasonable cause thus exonerated the assessee from the levy of penalty. The below clause (k), if such failure relates to a statement referred to in section 200(3) or the proviso to section 206(C)(3) which is to be delivered or caused to be delivered for tax deposited at source or tax collected at source, as the case may be on or after 1-7-2012. Since the penalty order was dated 25-9-2012, technically also it could not be sustained.