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1995 (11) TMI 131 - ITAT DELHI-DExtract: ....... audit of the books of account under section 44AB does not arise when no books of account were maintained by the assessee. In such a factual position, the Assessing Officer was not at all justified in levying penalty of Rs. 23,918 under section 271B of the Income-tax Act, 1961. We delete the impugned penalty. 8. In the result, the appeal is allowed
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