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No penalty for mere non-quoting of PAN in TDS certificates
Case Law Details
- Case Name
- The Commissioner Of Income Tax And Another Vs M/S Gail (India) Ltd. (Allahabad High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Allahabad High Court
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Briefly stated the facts giving rise to the present appeal are that the respondent- assessee is a public sector undertaking which is under the control of Ministry of Petroleum and Gas, Government of India. It has been deducting income tax at source as per the provisions of Section 194-C and 194-J of the Act on all the payments made to contractors/professionals during the financial year 2002-03. The tax so deducted was also deposited by it in the government treasury in time. The annual return of TDS as per the provisions of Section 203 of the Act, was also filed in the prescribed ‘Form-26...
Section 206AA was not on the statute book during the relevant period.
However, the entire controversy raised by the Hon’ble Court as to the applicability of the Hindustan Steel seems to be unnecessary as the moment the court was satisfied that there was reasonable cause the penalty did not attract irrespective of any contumacious conduct or the assessee being a PSU. Hindustan Steel has been dissented/distinguished later in a number of cases none of which seems not to have been brought to the notice of the court.
Yes, its allright but what will be the implication of Section 206AA, Where if assesse has not mentioned PAN then Person required to deduct TDS shall deduct @ 20%.