Reasonable cause: proof of it prevents penalty imposition for failures under specified tax penalty provisions. No penalty shall be imposable on the person or the assessee for any failure referred to the specified provisions of the Income-tax Act if he proves that ... Summary
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Reasonable cause: proof of it prevents penalty imposition for failures under specified tax penalty provisions.
No penalty shall be imposable on the person or the assessee for any failure referred to the specified provisions of the Income-tax Act if he proves that there was reasonable cause for the said failure; the provision makes penalty imposition contingent on the absence of a proved reasonable cause.
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