2021 (1) TMI 943

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.... in ITA No.6188/Mum/2017 for A.Y.2009-10 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-24, Mumbai in appeal No.CIT(A)-24, Mumbai dated 20/01/2017 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) r.w.s. 147 of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 29/03/2015 by the ld. Asst. Commissioner of Income Tax-15(1)(1), Mumbai (herei....

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....dingly, we deem it fit to condone the delay in the instant case and admit the appeal for our adjudication. 3. None appeared on behalf of the assessee. We find that the notice issued to the assessee in the address mentioned in form 36 had returned six times and the hearing practically commenced on 27/11/2018 from which date, none had appeared on behalf of the assessee. Accordingly, we deem it fi....

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.... dispute that assessee had made purchases from five parties listed in page 2 of assessment order totaling to Rs. 24,02,060/- whose names appeared to be tainted dealers in the website of Sales Tax department of Government of Maharashtra, which information was passed on by the Sales Tax department to the DGIT Investigation which ultimately triggered the re-assessment proceedings in the assessee's ca....

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....erials purchased from the alleged suppliers and proceeded to disallow 100% of value of purchases made from those parties to the tune of Rs. 24,02,060/- as unverifiable and completed the assessment. 5.2. We find that the ld. CIT(A) however, observed that assessee had duly consumed / sold the materials purchased from the aforesaid suppliers for the purposes of its business and hence only the prof....