50[Failure to keep, maintain or retain books of account, documents, etc.
271A. Without prejudice to
the provisions of section 271, if any person 51[***] fails to keep and maintain
any such books of account and other documents as required by section 44AA 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 52[Assessing] Officer or the 53[***] 54[Commissioner (Appeals)]
may direct that such person shall pay, by way of penalty, 55[a sum of twenty-five
thousand rupees].