Audit of accounts as per State Societies Act and other of Court are enough to delete sec. 271B penal

IT : Where assessee, a co-operative society, in view of provisions of U.P. Co-operative Societies Act, 1963 and order of Allahabad High Court got its accounts audited by its internal auditors, levy of penalty under section 271B upon assessee on plea that it had not got its accounts audited by any chartered accountant was not justified