2021 (7) TMI 451

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... appeal by Revenue for A.Y. 2011-12 contest the order of Ld. Commissioner of Income Tax (Appeals)-9, Mumbai [CIT(A)], Appeal No. CIT(A)-9/(Cir.4)(2)(2)/52/2016-17 dated 27/08/2019 which has granted partial relief to the assessee on account of disallowance made by Ld. AO u/s. 37(1) for Rs. 7.60 Lacs. 2. At the time of hearing, none appeared for assessee. However, the material on record was suffi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nished along with details of sales. However, the supplier could not be traced and therefore, the expenditure was disallowed. 4. The Ld. CIT(A) observed that the assessee had filed documentary evidences which were not disproved. The receipt and utilization of wrist watches could not be ignored. The Ld. AO did not conduct any further inquiry. Therefore, it could be concluded that the actual purch....