Section 173 - Penalty not to be imposed in certain cases. - Finance Act, 2016

Penalty not to be imposed in certain cases. 173 . (1) Notwithstanding anything contained in section 171 or section 172, no penalty shall be imposable for any failure referred to in the said sections, if the 1 [ assessee or e-commerce operator ] proves to the satisfaction of the Assessing Officer that there was reasonable cause for the said failure. (2) No order imposing a penalty under this Chapter shall be made unless the 2 [ assessee or e-commerce operator ] has been given a reasonable opportunity of being heard. ******************* NOTES:- 1. Substituted vide Finance Act, 2020 dated 27-03-2020 before it was read as assessee 2. Substituted vide Finance Act, 2020 dated 27-03-2020 before it was read as assessee