Confirmation letter by creditor establishes only identity & not creditworthiness & genuineness

A. Godwin Maria Visuvasam Vs. ITO (ITAT Chennai) Merely furnishing of confirmation letter by a creditor, as it again well settled, does not would at best only establish identity of the creditors. There was nothing on record establishing creditworthiness of the creditors and/or genuineness of impugned loans and advances in the instant case. Therefore, AO was justified in making addition under section 68. Full Text of the ITAT Order is as follows:- This is an Appeal by the Assessee directed against the Order by the Commissioner (Appeals)-I, Coimbatore (‘Commissioner (Appeals)’ for sh...