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<h1>Failure to obtain tax audit triggers penalty under section 271B, subject to the reasonable cause exception.</h1> Failure to obtain the audit or to furnish the audit report required by section 44AB permits the Assessing Officer under section 271B to impose a penalty for each year of default equal to the lower of a turnover linked percentage of sales/receipts (or gross receipts in profession) or a specified monetary cap, provided no reasonable cause for the failure is proved.