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6. The AO observed that there was a positive evidence to impeach the creditworthiness of the assessee. He issued the following show-cause dated 26.08.2010 to the assessee:

"(i) Please also explain as to how these companies came into your contact for booking of plots/flats.
(ii) Please clearly specify as to whether these booking amounts were received after the commencement of the project or these were received at the pre-launch stage.
(iii) Please furnish photocopies of the agreement against which booking amount has been received.
"It is in this background it was explained to him that quantum of onus lies upon him to establish the genuineness of the transactions and the true identity and creditworthiness of the alleged applicant. There is positive evidence to impeach the creditworthiness of the applicant. In these circumstances, the following show-cause dated 26.08.2010 was issued to the assessee:
(i) Please also explain as to how these companies came into your contact for booking of plots/flats.
(ii) Please clearly specify as to whether these booking amounts were received after the commencement of the project or these were received at the pre-launch stage.