Dismissing the appeal of the revenue the Tribunal held that the assessee has produced substantial documentary evidence such as confirmations of lender companies, copies of financial statements of lender companies, and copies of bank statements evidencing advancing of loan by lender companies to assessee through normal banking channel, etc. Interest paid on said loans was subjected to deduction of tax at source as per mandate of law, notices issued by Assessing Officer under section 133(6) to principal officers of lender companies, were duly complied with and required details were also furnished by lender companies.  Merely because information was received by the Assessing Officer from the office of the Dy. DIT (Inv.) that the search proceedings conducted under section 132 in the case of one Praveen  Kumar Jain   had revealed that he was engaged in providing accommodation entries through several companies managed and controlled by him cannot be  the sole basis to treat the loan as non genuine. (AY. 2010-11)