When books of accounts are not maintained, levying penalty u/s 271B for not getting books audited unjustified

Lokesh Kumar Sharma Vs ITO ( ITAT Jaipur) ITAT Jaipur held that where no books of account are maintained, penalty should be imposed for non-maintenance of books of account u/s 271A of the Income Tax Act. However, in such circumstances imposing penalty u/s. 271B for not getting books of accounts audited is not justifiable. Facts- AO initiated penalty proceedings under section 271B of the IT Act for violation of provisions of section 44AB and consequently after providing opportunity of hearing to the assessee penalty of Rs. 75,297/- was imposed under section 271B of the Act on 27.01.2022. Aggrie...