Tribunal held, that since no format of books of account were prescribed under the Rules for civil contracts, penalty under S. 271A was not justified. When no penalty under S. 271A was leviable, penalty under S. 271B also could not be levied for non-audit as prescribed under S. 44AB of the Act. (AY.2009-10 to 2014-15)
Harshvardhan v. Dy. CIT (2020)77 ITR 81 (SN) / 195 DTR 145/ 206 TTJ 894 (Bang.)(Trib.)
S. 271B : Penalty-Failure to get accounts audited–Civil contractor– Failure to keep and maintain books of account-No prescribed format for maintenance of books of account-Levy of penalty is not justified either u/s 271A or u/s 271B of the Act. [S. 44AB, 271A]