1 itxal-1151-10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX APPEAL (LOD) NO.1151 OF 2010 The Commissioner of Income Tax-20 ..Appellant. V/s. M/s. Shrim Capital Management ..Respondent. Mr. D.K. Kamwal for appellant. Mr. M. Subramanian i/b. V.S. Hadade for respondent. CORAM : J.P. DEVADHAR AND MRS. MRIDULA BHATKAR, JJ. DATED : 1ST FEBRUARY, 2011 P.C. :- 1. Whether the Tribunal was justified in deleting the addition made on account of unexplained credit, is the question raised in this appeal. Perusal of the order of the Tribunal more particularly para 7 thereof shows that four parties who had issued confirmation of loan letters were not present at their premises at the time when the Income Tax Officer visited their premises. The Tribunal held that in such a case, it cannot be said that the parties are bogus or they did not exist. The Tribunal has recorded a finding of fact that the four persons who had issued the confirmation of loan letters were having Pan numbers and the amount was issued by cheque. In these circumstances, the finding of fact recorded by the Tribunal cannot be faulted. Accordingly, we do not see any merit in the appeal and the same is dismissed with no order as to costs. (MRS. MRIDULA BHATKAR, J.) (J.P. DEVADHAR, J.)