Penalty Imposed for Non-Maintenance of Books u/s 44AA; Bank Account Not Considered as Books of Accounts.

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....Penalty u/s 271A - violation of provisions of section 44AA - non-maintenance of books of accounts - Though the total income of the assessee was assessed by the AO as per the transaction recorded in the bank account however, the bank account of the assessee cannot be accepted or regarded as books of accounts - levy of penalty is justified - AT....