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:-

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