Section 271B Penalty not leviable when books of accounts not maintained

Shanthilal D Jain Vs DCIT (ITAT Chennai) ITAT Chennai held in the case of Shanthilal D Jain Vs DCIT that Penalty under Section 271B for failure to get account audited not leviable when books of accounts are not maintained. Facts- ld.CIT-DR relied on the order of CIT(A) and stated that the assessee has not maintained any books of account and the alleged books of account as referred by assessee before AO as well as before CIT(A) is only a hard disk which was seized, but this hard disk, according to ld.CIT-DR, contains incomplete tally package which was recovered during the course of search throw...