Assessee Fails to Respond to Show Cause Notice; No Reasonable Cause Provided for Non-Compliance with Audit Report Requirement.

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....Penalty u/s 271B - The assessee was very casual and did not enter appearance for the show cause notice issued for imposition of penalty. The assessee has not made out a reasonable cause as mentioned u/s 273B for non-furnishing of audit report u/s 44AB.....