Assessment in case of assessee was completed. Subsequently, Investigation wing conducted a search & seizure and survey operations upon company KRPPL and its group. During post-search investigations, Managing Director of KRPPL made statement and admitted that said company had provided bogus accommodation entries in respect of exempt LTCG by way of sale of shares to various beneficiaries.  On basis of same, a notice under section 153A was issued upon assessee that he was also one of beneficiaries of such bogus exempt LTCG claimed by him under section 10(38). He further made an addition on account of such accommodation entry received by assessee under section 68 of the Act. Tribunal deleted the addition on the ground that no incriminating evidence or document was found during search proceedings pertaining to assessee and  on date of search, assessment with respect to relevant assessment year had already stood completed. Since no assessment was pending for relevant assessment year on date of search and no incriminating material was found during course of search pertaining to assessee, impugned addition under section 68 to income of assessee solely relying on disclosures made by Managing Director  of a company on which search was conducted was unjustified and same was  deleted. High Court affirmed the order of Tribunal. (AY. 2011-12)