https://www.taxtmi.com/caselaws?id=754594 ITAT Rajkot held that penalty under section 271B for non-audit of books cannot be imposed when books of accounts were not maintained before the due date under section 139(1). The assessee filed return only after notice under section 148. Since books were written up after the due date, the primary default was non-maintenance under section 44AA, attracting penalty under section 271A, not section 271B. The tribunal ruled that audit provisions under section 44AB cannot be violated when accounts were not maintained at all. Appeal decided in favor of assessee. en-us Wed, 17 Jan 2024 00:00:00 +0530 Thu, 27 Jun 2024 12:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754594 ITAT Rajkot held that penalty under section 271B for non-audit of books cannot be imposed when books of accounts were not maintained before the due date under section 139(1). The assessee filed return only after notice under section 148. Since books were written up after the due date, the primary default was non-maintenance under section 44AA, attracting penalty under section 271A, not section 271B. The tribunal ruled that audit provisions under section 44AB cannot be violated when accounts were not maintained at all. Appeal decided in favor of assessee. Case-Laws Income Tax Wed, 17 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754594