Dismissing the appeal of the Revenue the Court held that Tribunal had noted that assessee had furnished each and every document required for proving identity, creditworthiness of share applicants and genuineness of transactions, however, Assessing Officer had not been able to brought on record any evidence to show that cash was paid by assessee to any person for obtaining accommodation entries in form of share application money. Court also held that  as matter of record that SCS had retracted his statements given before Assessing Officer. On facts  addition made by Assessing Officer was without any basis. Followed Pullangode Rubber Produce Co Ltd v. State of Kerala (1973) 91 ITR 18 (SC) (AY. 2011-12)