Assessing Officer held that one investor, Axis Propbuild Pvt Ltd  made investments from funds received from  Toplink Projects Pvt Ltd and return income of said shareholder company was not sufficient. He  treated share application receipts from  Axis Propbuild Pvt Ltd    as unexplained credit under section 68 and made addition. Commissioner (Appeals) deleted the  addition.  On appeal  the Tribunal held that as per financial statements of Toplink Projects Pvt Ltd, who had made entire investment in Axis Propbuild Pvt Ltd      it was evident that there was a substantial amount of gross total income. In view of substantial turnover and net worth of  Toplink Projects Pvt Ltd   which was also an associated company of Axis Propbuild Pvt Ltd only finding of Assessing Officer that investor’s share capital and reserves were not changed from preceding year and there was insufficient income, could not be sole reason to characterize said transaction as bogus. Since assessee had duly established creditworthiness of investor and genuineness of transaction,  addition made by Assessing Officer is  merely on basis of a preconceived notion and was, arbitrary and unsustainable. Order of CIT(A) deleting the addition is affirmed. (AY. 2017-18)