TaxTMI 
TaxTMI 
the a.o. has added unsecured loans u/s 68 , as addresses of lenders was not given, though confirmed copy of account with PAN was filed .whether this action A.o.is correct. Whether one can appeal , as assessee has discharged onus by filing confirmation.And A.O. has not intiated action u/s 131.
section 68
18 Dec 2010 
1 Reply 
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Unsecured loan additions may stand without satisfactory lender identification and addresses; appeal to appellate authority is available.
Assessment additions treating unsecured loans as unexplained credits under section 68 hinge on whether the taxpayer's confirmations, PAN-linked account copies and particulars (notably lenders' addresses) satisfactorily establish identity and genuineness. The assessing officer may require lender addresses to enable direct verification; failure to provide such particulars can justify addition. The taxpayer may appeal to the Commissioner (Appeals) following the statutory appeal procedure. (AI Summary)
Assessment additions treating unsecured loans as unexplained credits under section 68 hinge on whether the taxpayer's confirmations, PAN-linked account copies and particulars (notably lenders' addresses) satisfactorily establish identity and genuineness. The assessing officer may require lender addresses to enable direct verification; failure to provide such particulars can justify addition. The taxpayer may appeal to the Commissioner (Appeals) following the statutory appeal procedure. (AI Summary)