TMI Blog2010 (8) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... ved - Held that: - parties are having PAN numbers and assessed under Income tax - assessee also produced confirmation letters - transactions are reflected in the accounts and balance sheets - no addition can be made u/s 68 - order of CIT(A) and ITAT maintained. - 790/2010 - - - Dated:- 30-8-2010 - MR. MANMOHAN J. Ms. Suruchii Aggarwal, Advocate MANMOHAN, J: 1. The present ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d out that the assessee had failed to produce before the Assessing Officer either the books of accounts or principal officers or Directors of those persons who had given credit entries. Consequently, according to her, the creditworthiness of the parties and genuineness of the transactions were not proved. 3. However, upon a perusal of the file, we find that the addition was deleted by the Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the Ld. CIT(A) has verified the assessment records and also found that the A.O. had directly called for the bank accounts of the two parties along with accounts opening forms and other papers and the transactions were found recorded in the bank account as also that of the paying companies. Though the A.O. has done verification directly from the bank accounts of the two paying companies, he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ords, is on a right footing and do not call for any interference. 4. Keeping in view aforesaid finding of fact arrived at by the final fact finding authority, we are of the opinion that the same is both fair and reasonable. In any event, no substantial question of law arises in the present proceeding. 5. Accordingly, the present appeal is dismissed in limine. - - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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