ITAT upholds section 271B penalty despite non-maintenance of books

Rupa Sanjay Nigade Vs ITO (ITAT Pune) Introduction: In the case of Rupa Sanjay Nigade Vs ITO, ITAT Pune upheld the imposition of a penalty under Section 271B of the Income Tax Act, 1961 due to the non-audit of books of accounts. The appeal was made against an order by the National Faceless Appeal Centre (NFAC), Delhi. The assessee’s argument was dismissed as her business income exceeded the threshold, necessitating the audit of accounts under section 44AB of the Act. Rupa Sanjay Nigade, the appellant, argued that she was not required to audit her books of accounts as her business income, a c...