Section 153C Addition unsustainable if no incriminating material found during Search

Sh. Sanjay Garg Vs DCIT (ITAT Chandigarh) Facts- A search and seizure operation in terms of section 132(1) was carried out at the business and residential premises of M/s Longowalia Group of Cases and the assessee Shri Sanjay Garg also was one of the persons covered in such search. Accordingly, notice u/s 153A of the Act was issued on 23.06.2016 for the impugned AY and the assessee submitted his ROI declaring total income of Rs.10,45,490/-. Subsequently, during the course of assessment proceedings, the AO noticed that the assessee had forfeited an amount of Rs.70 lacs said to have been receive...