If any person fails to get his accounts audited in respect of any previous year or years relevant to an assessment year or furnish a report of such audit as required under section 44AB, the Assessing Officer may direct that such person shall pay, by way of penalty
source https://www.caclubindia.com/articles/penalty-for-failure-to-get-accounts-audited-section-271b-46178.asp
source https://www.caclubindia.com/articles/penalty-for-failure-to-get-accounts-audited-section-271b-46178.asp
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