Assessee was asked to file details of loans taken during the year. Assessee filed three documents, namely, A/c confirmation, bank pass-book and PAN card, which were un-disputably accepted by both AO and CIT(A). The A/c confirmation was duly signed by creditor and contained full address as well as PAN of creditor. Thus, identity of creditor was duly proved. Further, bank pass-book clearly showed that creditor received certain amount through clearing and loan was given to assessee out of it. Therefore, capacity/ creditworthiness of creditor was proved. Further, genuineness of loan was also established by bank pass-book, which clearly reflected that loan was taken through banking channel and there was no involvement or flow of cash. Thus, all the elements of section 68 were satisfied. Hence, assessee discharged primary burden cast upon him and still if AO was not satisfied, he ought to have made enquiry from creditor. However, he had not done any such enquiry and fastened tax liability upon assessee without any basis. Hence, the impugned addition was deleted. (AY 2019-20. [ITA No. 391/IND/2022 dated 18/08/2023]