Held  that in respect of loans taken from Mr. C. C. Thampi  the Assessing Officer had not considered the submissions of the assessee that all contributions had been made through proper banking channels as a foreign remittance from abroad and that T was working abroad for last 30 years being involved in many business ventures in the Middle East. The assessee had submitted the annual reports of various entities in which T was involved but the Assessing Officer had rejected these on the ground that the annual reports pertained to the year ended March 31, 2012 and could not be considered for contributions made during 2007. The assessee having submitted evidence in the form of bank statements where the entries of receipt on various dates were reflected and the annual reports to substantiate the various business interest of T these could not be rejected without verification and any adverse finding to the contrary. The Assessing Officer had not conducted any further enquiry. The Commissioner (Appeals) had considered the facts and circumstances of the case correctly and there was no reason to interfere with his decision.(AY. 2008-09)