Assessee-individual entered into shares and derivative transaction in relevant assessment year.Assessing Officer held that total turnover/gross receipts of assessee was Rs. 82 crores and assessee was liable to get his accounts audited under section 44AB and levied the penalty for failure to get tax audit report.   Held that since assessee was under bona fide belief that as per Guidance Note issued by ICAI on ‘tax audit under section 44AB’ net result in derivative transaction was to be considered as turnover and as same did not exceed more than Rs. 1 crore, assessee would not be liable to get his books audited thus, penalty levied under section 271B is directed  to be deleted. (AY. 2016-17)