During search conducted at premises of Ahuja Properties & Associates  unaccounted cash transactions and accommodation entries were found in group’s parallel accounts. Reassessment notice is issued and addition is made under section 69A as accommodation entries On appeal the CIT(A) has up held the addition. On appeal the Tribunal held that  the  Assessing Officer extracted certain portions of statements recorded from one Jagdish Ahuja  where he had confirmed maintenance of parallel books of account and giving accommodation entries. No specific finding was recorded which linked impugned loan transaction with recorded statement.  The assessee repaid loan with interest after deducting tax at source. Addition is deleted. (AY. 2009-10)