https://www.taxtmi.com/caselaws?id=464690 ITAT, Chennai (AT) held that penalty under s. 271B for failure to get accounts audited could not be levied where no books of account were maintained. The tribunal found the omission constituted an offence under s. 44AA (failure to maintain books) and not under s. 44AB (failure to get accounts audited), so penalty under s. 271B was inapplicable. Relying on precedent, the AO was directed to delete the penalty and the assessee's appeal was allowed. en-us Wed, 27 Mar 2019 00:00:00 +0530 Fri, 07 Nov 2025 10:41:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464690 ITAT, Chennai (AT) held that penalty under s. 271B for failure to get accounts audited could not be levied where no books of account were maintained. The tribunal found the omission constituted an offence under s. 44AA (failure to maintain books) and not under s. 44AB (failure to get accounts audited), so penalty under s. 271B was inapplicable. Relying on precedent, the AO was directed to delete the penalty and the assessee's appeal was allowed. Case-Laws Income Tax Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464690