A search was conducted at the residential premises of the assessee. In his statement recorded on oath under section 132(4), the assessee had admitted the fact of routing unaccounted income of the family by way of pre-arranged long-term capital gain in the regular books of account of the assessee. The statement was retracted. Assessing Officer invoked proceedings under section 153A and further passed an assessment order making an addition to income of assessee. Commissioner as well as Tribunal, after scrutinising material collected by Assessing Officer, had recorded a finding of fact that other than retracted statement, no other evidence/material was relied upon by Assessing Officer to invoke addition. Commissioner (Appeals) and the Tribunal were of the view that said piece of evidence, i.e. retracted statement, could not be termed as incriminating material. On appeal, the Court held that no addition can be made in respect of completed assessments in the absence of any incriminating material found during a search under section 132 or requisition under section 132A. Order of the Tribunal affirmed. (AY. 2014-15)