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Union of India - Section

Section 127 in Finance Act, 2013

127. Penalty not to be imposed in certain cases.

(1)Notwithstanding anything contained in section 124 or section 125 or section 126, no penalty shall be imposable for any failure referred to in the said sections, if the assessee 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 assessee has been given a reasonable opportunity of being heard.