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TMI Blog2023 (10) TMI 1019X X X X Extracts X X X X X X X X Extracts X X X X ..... onfirm the addition made by the AO of Rs. 14,66,622/- on account of unexplained investments u/s 69B of the Act is contrary to the material evidences of record and the addition is arbitrary, excessive and illegal. 2. That on the facts and in the circumstances of the case the action of the Ld. CIT(A) to confirm the addition made by the AO of Rs. 11,00,120/- on account of publicity expenses not accounted for in the receipt sides of the books is contrary to the material evidences of record and the addition is arbitrary, excessive and illegal. 3. That the order of the Ld. CIT(A) confirming the action of the A.O. is arbitrary, excessive and illegal. 4. That the above grounds of appeal will be argued in details at the time of hearing and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the AO on the same reasoning. 5. After hearing the rival contentions and perusing the material on record, we find that the assessee is dealing in liquor which is an excisable item and passes through various checks and scrutinies by the Excise Department. We note that the assessee has maintained stock register recording therein opening stocks, purchases, sales and closing stocks including item-wise identification of each brand. Similarly, the assessee has maintained the excise register also. Both these were produced before us and were test checked by us. We observe from the assessment order that the AO while taking a few items out of the total items calculated the suppression in the value of stock at Rs. 29,33,243/- and calculated the under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see which was confirmed by Ld. CIT(A). 8. We have heard the rival contentions and perused the material on record including evidences filed by the assessee in respect of these expenses and re-imbursements received from the suppliers. We note that these are the recurring schemes of publicity floated by manufacturers of liquor under which the assessee is allowed to incur the publicity expenses which were duly reimbursed to the assessee. The AO has cited the only reason for disallowance that the assessee has failed to prove that these are only and exclusively for the purpose of business of the assessee whereas on the other hand the assessee is in the business of liquor trading and has received the reimbursement of publicity expenses from the s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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