Allowing the appeal of the Revenue the Court held in three companies, transaction failed to meet test of creditworthiness and genuineness. Assessing Officer held that transaction in question had not met triple test, namely, establishment of identity, creditworthiness of creditor, and genuineness of transaction. The High Court held that the Tribunal somehow did not deem it fit to inquire as to why more than 50 per cent of the amount raised by the assessee was invested by it in the three companies & the Tribunal, as a matter of fact, did not inquire into the financials of investor companies and, therefore, the test of creditworthiness was also not met in the instant case. Thus the finding of the Tribunal that the assessee had discharged its onus is perverse & the Tribunal was wrong in deleting the addition made by the Assessing Officer. Tribunal’s order is set aside.(AY. 2000-01)