Dismissing the appeal of the revenue the Court held that, upon receiving notice under section 131 the assessee had produced documentary proof such as assessments and returns filed by share applicants as well as confirmation and acknowledgment documents. If Assessing Officer wished to pursue matter, there were sufficient clues for him to have proceeded, for instance, it could have issued notices and obtained statements from bankers of share applicants or even balance sheets which existed in records of their Assessing Officers. However, Assessing Officer did not choose to pursue said course of action. Accordingly the deletion of addition is held to be justified. (AY. 2008-09)