A search under section 132 was conducted in case of assessee and its group companies after receipt of information from French Government under DTAA that some Indian nationals and residents had foreign bank accounts in HSBC Bank (Suisse) SA Geneva which were not disclosed to Indian tax authorities. A ‘base note’ was received which recorded that assessee was a beneficiary/beneficial owner of bank accounts in HSBC Bank (Suisse) SA Geneva-However, assessee produced a letter from HSBC Bank (Suisse) SA Geneva, stating that assessee had no bank account in said bank nor had any transactions with said bank. Further, HSBC Bank (Suisse) SA Geneva also confirmed by issuing a letter that assessee had no connection whatsoever with said bank accounts. Assessing Officer nonetheless added the entire peak balance of the bank account of the group company as unexplained money under section 69. Tribunal deleted the addition. On appeal, the Tribunal held that since base note on which the revenue sought to place reliance was in fact a document available post-search and admittedly was not a document recovered under search action, and moreover, assessment proceedings in present case had also stood completed, hence, base note being a document available post-search could not be considered to be any incriminating document to assess or re-assess assessee’s income. (AY. 2006-07)