§ 470
Chapter XXI — Penalties
Penalty not to be imposed in certain cases
Income-tax Act, 2025
If an assessee can demonstrate a reasonable cause for a default covered under sections 441, 442, 446‑456, 457‑460, 461‑463, 465(1)(c), 465(1)(d), 465(2), 466‑468, the tax authorities cannot levy a penalty for that failure.
This exemption applies regardless of the specific penalty provisions listed.
📜 Official text of the section +
470. Irrespective of anything contained in the provisions of section 441 or 442 or
446 15[***] 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.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.
Related sections
§ 439Penalty for under-reporting and misreporting of income§ 440[ (1) An assessee may make an application to the Assessing Officer to grant§ 441Failure to keep, maintain or retain books of account, documents, etc§ 442Penalty for Non‑Compliance with Transaction Reporting§ 443Penalty in respect of certain income§ 444Penalty for false entry, etc., in books of account