Dismissing the appeal of the revenue the Tribunal held that no enquiry was made by the Assessing Officer with the concerns or names of persons appeared in the seized document. The Assessing Officer had not called for necessary information from the various parties whose names were mentioned in the seized document. The assessee had filed ledger account of various parties and the names of most of them appeared in the seized document BS-28 and the confirmation accounts clearly revealed that there were regular transactions with these parties through account payee cheques with regard to the loans given by the lenders and received by the borrowers and the repayment thereafter. No evidence had been brought on record that any of loans were advanced by cash and also receipt of interest.  (AY.2011-12)