Assessee discharges his initial onus if he duly furnishes PAN, B/S, COI, Confirmation & bank a/c of creditor

Where, the assessee, apart from furnishing the permanent account number of the creditor, has also furnished their balance sheet, copy of income tax return, confirmation, bank account etc. The amount advanced to the assessee is duly disclosed in the balance sheet of all the creditors.

Even the assessee has also explained the source of cash deposited in the bank account of the creditors. The initial onus which lay upon the assessee was duly discharged. If the Assessing Officer wanted to examine the issue further, he could have very well issued notice under Section 131, failing that it cannot be said that assessee has not discharged the initial onus.