Comparison of section 470 'Penalty not to be imposed in certain cases.' between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)

Reasonable cause defence prevents penalties when a taxpayer proves it, expanding protection in the enacted provision.

Section 470 bars imposition of penalties under the listed provisions where a person or assessee proves there was reasonable cause for the failure; it frames the exception as prevailing irrespective of anything in those provisions and places the burden of proof on the person, while not defining 'reasonable cause' or prescribing standards, procedures, or timing for such proof.