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2017 (5) TMI 1270 - AT - Income TaxBogus accommodation entries - CIT-A allowed claim - Held that:- It is clear from the finding recorded by CIT(A) that assessee has satisfied all the three conditions of cash credit. As per the finding of CIT(A), assessee has not only established the identity of the loan creditors but also genuineness of the loan transaction as well as the credit worthiness of loan creditors. The detailed finding recorded by CIT(A) has not been controverted by department by bringing any positive material on record. Accordingly, do not find any reason to interfere in the order of CIT(A). - Decided in favour of assessee.
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