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2023 (4) TMI 523 - AT - Income TaxLevying penalty u/s 271B - not getting the books of accounts audited when no books of accounts have been maintained by the assessee - HELD THAT:- It is pertinent to note that when the assessee did not maintain the regular books of account then the question of getting the books of accounts audited does not arise. In this regard, I find that the Coordinate Bench of the Jaipur Tribunal has dealt with the similar issue in the in the case of Shahnaz Khanam vs. ITO [2018 (5) TMI 2141 - ITAT JAIPUR] wherein as held once the assessee found to have not maintaining the regular books of account as contemplated by Section 44AA of the Act the default was completed and therefore, after the default of not maintaining the books of accounts there cannot be a further default for not getting the same audited as required U/s 44AB of the Act. Hence, the penalty of levy by the AO U/s 271B is not justified and the same is deleted. Thus the imposition of penalty under section 271B is not justified and bad in law. The penalty is deleted. Decided in favour of assessee.
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