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Penalty Confirmed for Failure to Produce Audit Report u/s 44AB; Assessee's Argument Rejected by Court.

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....Failure to produce the books of account and audit report u/s 44AB - the contentions of the assessee that since no books of account have been prepared, therefore could not be audited is not accepted - Penalty u/s 271B confirmed - AT....

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Penalty Confirmed for Failure to Produce Audit Report u/s 44AB; Assessee's Argument Rejected by Court.