*“Alleged accommodation entries taken From alleged shell companies i.e. Jayant Securities & Finance Ltd. and Jay Jyoti (India) Pvt. Ltd. are Genuine Loans ”- ITAT Indore*

The issue involved was whether “Merely for not producing the cash creditors before the Ld. AO even when all the necessary documents as required to prove the identity, creditworthiness and genuineness of the cash creditors are furnished by the assessee, can be a reasonable basis to make addition for unexplained cash credit u/s 68 of the Act.?” Which was held in favour of the assessee.