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TMI Blog2014 (2) TMI 866X X X X Extracts X X X X X X X X Extracts X X X X ..... revenue is contrary to the stand taken by Central Board of Direct Taxes - Board in the letter dated 5.8.2008 vide No.275/24/2007-IT(B) has clarified that penalty of Rs.10,000/- under Section 272B is linked to the person who is responsible to deduct TDS, and not to the number of defaults regarding the PAN quoted in the TDS return. - Penalty cannot be imposed by calculating the number of defective ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the respondent was that the PAN Numbers were not furnished by the Truck owners and, therefore, they were not quoted by them or PAN Numbers as informed were quoted. In case, the PAN Numbers are not furnished by the deductees, the respondent- assessee cannot be penalized under Section 272B. Section 139A also imposes the obligation on the deductees to furnish PAN Number to the deductor. 3. Second ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Rs.10,000/- can be imposed on the deductor. Penalty cannot be imposed by calculating the number of defective entries in each return and by multiplying them with Rs.10,000/- . This also appears to be a legislative intent, as in many cases, the TDS amount may be small or insignificant fraction of Rs.10,000/-. 4. We clarify that we have not examined in this appeal, question and issue that if a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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