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9. From the above, the Assessing Officer noted that the profit declared by the above mentioned so-called investor companies over the years is negligible. Even the turnover declared by the investor companies is not very significant in most of the cases. The financials of these companies are typically of accommodation entry providing companies in whose accounts only huge share capital/premium and investments are reflected without any worthwhile turnover and profits. The Assessing Officer, in order to further verify the issue, examined the bank statements of some of these companies and observed that the statements shows back to back transactions of same amount, i.e., credit and debit of the same amount on the same date(s) or following date(s) with no other deposits and transactions. This observation, clubbed with the fact that the sales and income figures of these investor entities as per their ITD database details depict too meek a balance sheet to justify such huge fund transfer transactions in their bank accounts, along with other observations as mentioned clearly suggests that these accounts belong to various entry providing companies and the same were utilized to provide accommodation entries to the beneficiaries, i.e., Kandhari group. According to the Assessing Officer, no investor has been produced by the assessee group. The assessee failed to furnish any documentary evidence regarding the existence of such investor. Mere filing of confirmations from parties, according to the Assessing Officer, does not discharge the onus of the assessee. According to him, it cannot be believed that investors invests their crores of rupees in a non-listed company without any return and the recipient company even does not have the particulars/contact details of such investors. He, therefore, asked the assessee to ITA Nos.2257 & 1088/Del/2018 establish the identity, credit worthiness and genuineness of the investors who had subscribed to the share capital of the assessee company. The assessee, in response to the same, filed various details like confirmation, ITR, assessment particulars, MOA, audited financial results, bank statements, MCA site data extract of all such investor companies to establish the identity, creditworthiness and genuineness of such investor companies. It was submitted that all the investor companies are group companies who were allotted shares by the assessee company during the relevant period under consideration. The assessee also filed details of source of source, i.e., the source of funds received by the said investor companies to establish the identity, creditworthiness and genuineness of such investment with the assessee company.