A search was conducted under section 132 on one Suresh Kumar Gupta. Assessing Officer of the searched person initiated proceedings under section 153C against the assessee and made additions to its income on basis of a provisional balance sheet, which was a record of affairs pertaining to the assessee as on 30-9-2005. Tribunal held in favour of assessee essentially on the ground that the material gathered was not recognisable as incriminating and pertaining to the assessment year in question. Court held that proceedings under section 153C could not have been triggered mechanically absent formation of an opinion by the Assessing Officer of a non-searched person that material was likely to impact an assessment made. Since the provisional balance sheet could not be said to be reflective of affairs pertaining to assessment years 2004-05 and 2005-06, the Tribunal was justified in annulling the assessment undertaken. Existence of a primordial requirement of material relating to undisclosed income even prior to the amendment in the year 2015. Tribunal justified in annulling assessment under section 153C. (AY. 2004-05, 2005-06)