58[Failure to get accounts audited.
271B. If any person fails 59[***] to get his accounts
audited in respect of any previous year or years relevant to an assessment year
or 60[furnish a report of
such audit as required under section 44AB], the 61[Assessing] Officer may
direct that such person shall pay, by way of penalty, a sum equal to one-half
per cent of the total sales, turnover or gross receipts, as the case may be, in
business, or of the gross receipts in profession, in such previous year or
years or a sum of 61a[one
hundred thousand rupees], whichever is less.]
