Section 470 — Penalty not to be imposed in certain cases
Old Act equivalent: Section 273B of IT Act 1961 Sub-part: A—Penalties
Statutory Text
- Irrespective of anything contained in the provisions of section 441 or 442 or 446 [***] or 448 or 449 or 450 or 451 or 452 or 453 or 454 or 455 or 456 or 457 or 458 or 459 or 460 or 461 or 462 or 463 or 465(1)(c) or 465(1)(d) or 465(2) or 466 or 467 or 468, no penalty shall be imposed on a person or assessee for any failure referred to in the said provisions, if he proves that there was reasonable cause for the said failure. Procedure.
Provisos
None.
Explanations
None.
Tables
None.
Key Structure
- Applies to: Person who proves reasonable cause for failure.
- Conditions: Penalty under specified sections not imposable if person proves there was reasonable cause for the failure.
- Time limits: None.
- Monetary limits: None.
- Exceptions: Covers failures under sections 441, 442, 447-468 and other specified sections.
Cross-References
Amendment Notes
None noted from the extracted pages.