Madras HC Upholds Interest Payment Despite Wrong PAN Details in SEBI’s Penalty Order; Plea to Align SEBI Act Provision with S. 220 of Income Tax Act Dismissed [Read Order]

By Navasree A.M - On October 7, 2023 12:01 pm - 2 mins read

Madras HC - Interest Payment- Despite - PAN Details -Penalty Order-Plea to Align SEBI Act - Income Tax Act -TAXSCAN

In a recent ruling, a solitary judge of the Madras High Court, while upholding the requirement to pay interest on a penalty imposed by the Securities and Exchange Board of India (SEBI) noted that PAN details serve as one means of identifying an individual, an incorrect PAN number in itself does not alter the individual’s…

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