Seizure of blank cheques during search can’t be treated as an unexplained investments in absence of Additional Evidence

Facts of the case The assessee is an individual engaged in the business of trading in scrap. Search and seizure operations u/s. 132 of the Act were conducted on 07-11-2007. Subsequently, notice u/s. 153A was issued calling upon the appellant to file the return of income. In response to which, the appellant filed return of income on 25-09-2009 disclosing income of Rs. 4,11,320/-. Against the said return of income, assessment came to be completed u/s. 143(3) r/w 153A of the Act vide order dt. 30-11-2009 at a total income of Rs. 1,17,18,320/-. While doing so, the AO made addition of Rs. 1,12,57,0...