2021 (4) TMI 290

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.... case was fixed for hearing on 11.01.2021 and 02.03.2021, neither the assessee nor its authorized representative appeared before the Bench on the above dates. As there is non-compliance by the assessee, we are proceeding to dispose off this appeal after examining the materials available on record and hearing the Ld. Departmental Representative (DR). 2. The grounds of appeal filed by the assessee read as under : 1. In the facts and the circumstances of the case and in law, the A.O. erred in passing the order u/s 143(3) r.w.s. 147 and therefore rendering the whole reassessment bad in law and also on the basis of borrowed satisfaction, presumption and surmises. 2. In the facts and circumstances of the case and in law, the ....

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....ade if the suppliers are not traceable as per the judgment of the Bombay High Court. d. In the facts and circumstances of the case and in law, the A.O. erred in disallowing Rs. 5,86,587/- as alleged Non-genuine purchases even though the payments were made by A/C Payee Cheques from the disclosed bank accounts. 3. In the facts and circumstances of the case and in law, the AO erred in levying penalty u/s 271(1)(c) and interest charged u/s 234 A, B, C & D. 4. In the facts and circumstances of the case and in law, the CIT(A) erred in confirming the above disallowances. 3. Briefly stated, the facts of the case are that the assessee filed its return of income for the assessment year (AY) 2011-12 on 11.08.2011 declarin....