Dismissing the appeal of the revenue the Court held that on the facts and the concurrent findings given by the Commissioner (Appeals) and the Tribunal, it was evident that the Department had not been able to produce any cogent material which could fasten the liability on the assessee. The Commissioner (Appeals) had also examined the assessment record and had observed that the Assessing Officer did not make any further inquiry or investigation on the information passed on by the Dy Commissioner with respect to the party in respect of whom the search was conducted. No attempt or effort was made to gather or corroborate evidence in respect of the addition made under section 69A by the Assessing Officer. Order of the Appellate Tribunal is affirmed .( AY.2002-03)