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2018 (5) TMI 1432 - AT - Income TaxFailure to produce the books of account and audit report u/s 44AB - penalty proceedings u/s 271B - Held that:- P & L A/c filed by the assessee with return indicates that he was liable to get his books of account audited u/s 44AB - assessee deliberately did not get his books of account audited - the contentions of the assessee that since no books of account have been prepared, therefore could not be audited is not accepted - hence assessee is liable to penalty u/s 271B - Decided against the assessee.
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