Tax Audit if (-) income above BEL in absolute terms ?

Anonymous (Business) (240 Points)

08 December 2021  
Dear Experts,

Is tax audit require if loss in f&o is above Basic exemption limit as per new IT portal? Do it consider absolute number ignoring (-) sign just for audit purpose?

(Turnover below 1 cr .
No other income. Never filed under presumptive tax 44AD.)

Thanks.