https://www.taxtmi.com/caselaws?id=783423 Penalty under section 271B was held unsustainable where the assessee claimed that no books of account were maintained and, therefore, no audit report under section 44AB could be furnished. The Tribunal accepted that, if any default existed, it lay in non-maintenance of books and fell within section 271A rather than section 271B. It further found that the Revenue did not establish with convincing evidence that books were in fact maintained for the relevant year, and it preferred the jurisdictional view that section 271B does not apply in the absence of books of account. The penalty was deleted. en-us Fri, 28 Nov 2025 00:00:00 +0530 Sat, 13 Dec 2025 13:29:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783423 Penalty under section 271B was held unsustainable where the assessee claimed that no books of account were maintained and, therefore, no audit report under section 44AB could be furnished. The Tribunal accepted that, if any default existed, it lay in non-maintenance of books and fell within section 271A rather than section 271B. It further found that the Revenue did not establish with convincing evidence that books were in fact maintained for the relevant year, and it preferred the jurisdictional view that section 271B does not apply in the absence of books of account. The penalty was deleted. Case-Laws Income Tax Fri, 28 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783423