Section - 271A (of Income Tax Act, 1961), Failure to keep, maintain or retain books of account, documents
Section - 271A (of Income Tax Act, 1961), Failure to keep, maintain or retain books of account, documents
Failure to keep, maintain or retain books of account, documents, etc.
Without prejudice to the provisions of section 270A (of Income Tax Act, 1961) or section 271 (of Income Tax Act, 1961), if any person fails to keep and maintain any such books of account and other documents as required by section 44AA (of Income Tax Act, 1961) or the rules made thereunder, in respect of any previous year or to retain such books of account and other documents for the period specified in the said rules, the Assessing Officer or the Joint Commissioner (Appeals) or the Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum of twenty-five thousand rupees.
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