LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

10.52 lakh bogus PAN cards cannot be termed minuscule number to harm economy, says Supreme Court

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
10.52 lakh bogus PAN cards cannot be termed minuscule number to harm economy, says Supreme Court
Photo of Supreme Court of India. Image Source: IANS
Written By: PTI
Updated: Sun, Jun 11, 2017
10:21 am
PTI
RELATED NEWS
PAN-Aadhaar linking NEW deadline: How to complete this important task, penalty, consequences and more PAN-Aadhaar linking NEW deadline: How to complete this important task, penalty, consequences and more
PAN card online free: Now, create a new card from home in just 10 minutes; know how to apply PAN card online free: Now, create a new card from home in just 10 minutes; know how to apply
Aadhaar PAN link to ITR filing — MUST finish these things today or face problems Aadhaar PAN link to ITR filing — MUST finish these things today or face problems
Aadhaar PAN Link: Waiting for 31st March deadline extension? MUST check this amendment in Finance Bill; here is your guide to avoid penalty, late fine Aadhaar PAN Link: Waiting for 31st March deadline extension? MUST check this amendment in Finance Bill; here is your guide to avoid penalty, late fine
New rules 2021:  DEADLINE to complete these tasks ends tomorrow—Fix it now New rules 2021: DEADLINE to complete these tasks ends tomorrow—Fix it now

As many as 10.52 lakh "bogus" PAN cards of individual income tax assesses, which is around 0.4 % of the total such documents, cannot be termed a "minuscule" number to harm the country's economy, the Supreme Court has said.

The apex court said that it has come on record that 11.35 lakh duplicate or fraudulent permanent account numbers have been detected and out of these, 10.52 lakh cases pertain to individual assesses.

It made the observations in a 157-page judgement while upholding the validity of section 139AA of the Income Tax Act making Aadhaar mandatory for allotment of PAN cards and filing of tax returns.

The court, however, put a partial stay on its implementation till its Constitution Bench addressed the larger issue of right to privacy related to Aadhaar.

Also Read: Income Tax, Aadhaar and PAN: How to link, correct name mismatch issues

Section 139AA of the Act provides for mandatory quoting of Aadhaar or enrolment ID of Aadhaar application form for filing of income tax returns and making application for allotment of PAN with effect from July 1 this year.

"It was sought to be argued (by the petitioners) that persons found with duplicate/bogus PAN cards are hardly 0.4 % and, therefore, there was no need to have such a provision," a bench headed by Justice A K Sikri said on Friday.

"We cannot go by percentage figures. The absolute number of such cases is 10.52 lakh, which figure, by no means, can be termed as minuscule to harm the economy and create adverse effect on the nation," the bench, also comprising Justice Ashok Bhushan, said.

Dealing with the submissions advanced by Attorney General Mukul Rohatgi that duplicate PANs were used to divert funds to shell companies, the bench said, "The fact remains that companies are after all floated by individuals and these individuals have to produce documents to show their identity."

It said if introducing Aadhaar in tax regime was one of the measures to check black money or money laundering, the scheme cannot be "denounced" only because of the reason that the purpose would not be achieved fully.

"Such kind of a menace, which is deep-rooted, needs to be tackled by taking multiple actions and those actions may be initiated at the same time.

"It is the combined effect of these actions which may yield results and each individual action considered in isolation may not be sufficient," it noted. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
PAN cardAadhaar CardSupreme Courtfake PAN cardsIT returnsIncome Tax FilingIndian economyEconomy
RELATED NEWS
PAN-Aadhaar linking NEW deadline: How to complete this important task, penalty, consequences and more PAN-Aadhaar linking NEW deadline: How to complete this important task, penalty, consequences and more
PAN card online free: Now, create a new card from home in just 10 minutes; know how to apply PAN card online free: Now, create a new card from home in just 10 minutes; know how to apply
Aadhaar PAN link to ITR filing — MUST finish these things today or face problems Aadhaar PAN link to ITR filing — MUST finish these things today or face problems
Aadhaar PAN Link: Waiting for 31st March deadline extension? MUST check this amendment in Finance Bill; here is your guide to avoid penalty, late fine Aadhaar PAN Link: Waiting for 31st March deadline extension? MUST check this amendment in Finance Bill; here is your guide to avoid penalty, late fine
New rules 2021:  DEADLINE to complete these tasks ends tomorrow—Fix it now New rules 2021: DEADLINE to complete these tasks ends tomorrow—Fix it now

LATEST NEWS

Expert recommends BUY ACC with price target of Rs 2100, stop-loss Rs 1850

Sonu Sood tests positive for Covid 19

7th Pay Commission Latest News: 'Special Allowance' extended for These Central government employees

COVID-19: Pune sees 10,963 cases, 109 deaths, 5,049 recoveries

Free Fire OB27 update released in India: Check how to APK download link, new map, characters and more

Alert! WhatsApp status flaw allows stalkers to track users online? Check all details here

J'khand HC grants bail to Lalu in Dumka treasury case; paves way for his release from jail

Govt notifies Rs 6k cr PLI scheme for AC, LED light manufacturing

India Covid 19 cases today: 1341 deaths, over 2.34 lakh coronavirus cases in 24-hour

Crude to be around $60 a barrel in 2021

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved