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of Penalty u/s 271B for failure to get accounts audited as required u/s 44AB was not levied. The assessee argued that since no accounts were maintained, recourse u/s 271A could be taken. Following the Bisauli Tractor [2007 (5) TMI 181 - Allahabad HC] precedent, the ITAT held that Section 271B was not attracted as the assessee did not maintain books of account, and the assessee was liable u/s 271A. Consequently, the ITAT allowed the assessee's appeal and deleted the impugned penalty u/s 271B.
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