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Taxpayer Penalized u/ss 271A and 271B Despite No Books to Audit, Highlighting Procedural Flaw in Expectations.

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....Penalty u/s 271A - Non maintaining the books of account - Penalty u/s 271B - non-audit of books of accounts - It is clearly a case of impossibility of performance where it is expected that the assessee should get her books of accounts audited when it is a known and admitted fact that there are no regular books of accounts which have been maintained at first place. - AT....

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Taxpayer Penalized u/ss 271A and 271B Despite No Books to Audit, Highlighting Procedural Flaw in Expectations.