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2010 (8) TMI 62 - DELHI HIGH COURTLoans - addition u/s 68 - department contended that either the books of accounts or principal officers or Directors of those persons who had given credit entries were not produced - Consequently, the creditworthiness of the parties and genuineness of the transactions were not proved - 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.
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