https://www.taxtmi.com/circulars?id=9909 Compliance with the requirement to maintain books of account under Section 44AA is mandatory and failure to do so attracts penalty under section 271A. Assessing Officers are directed to initiate penalty proceedings where non compliance is noticed, and supervisory officers and the Internal Audit wing must verify compliance during inspections and audits. en-us Thu, 27 Dec 1990 00:00:00 +0530 Thu, 09 Jun 2011 16:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9909 Compliance with the requirement to maintain books of account under Section 44AA is mandatory and failure to do so attracts penalty under section 271A. Assessing Officers are directed to initiate penalty proceedings where non compliance is noticed, and supervisory officers and the Internal Audit wing must verify compliance during inspections and audits. Circulars Income Tax Thu, 27 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9909