https://www.taxtmi.com/caselaws?id=457037 ITAT Jaipur held that penalty under section 271B for not getting books audited cannot be imposed when the assessee has not maintained books of accounts. The tribunal ruled that once penalty is levied for non-maintenance of books, a separate penalty for not getting non-existent books audited is unjustified. Since the assessee had no books to audit under section 44AB, the penalty under section 271B was vacated and the appeal was allowed. en-us Wed, 22 Mar 2023 00:00:00 +0530 Mon, 02 Sep 2024 19:54:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457037 ITAT Jaipur held that penalty under section 271B for not getting books audited cannot be imposed when the assessee has not maintained books of accounts. The tribunal ruled that once penalty is levied for non-maintenance of books, a separate penalty for not getting non-existent books audited is unjustified. Since the assessee had no books to audit under section 44AB, the penalty under section 271B was vacated and the appeal was allowed. Case-Laws Income Tax Wed, 22 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457037