Proceedings under section 153C were initiated against assessee.  During post-search enquiries, it was gathered that 25 companies applied and allotted shares of assessee-company and later family members/companies of Raj Darbar group bought back shares at a much lower price.  Assessing Officer treated amount received from companies as unexplained cash credit under section 68  of the Act. on the basis of extensive enquiries made by Investigation Wing. On appeal the Tribunal held that   the Assessing Officer had not made use of any seized documents while making additions to total income of assessee under section 68 and on other hand, had used extensive enquiries made by Investigating Wing, as basis to make said addition, since no seized material or statement had been relied upon by Assessing Officer while making addition  the addition  deleted. High Court affirmed the order of the Tribunal. Relied on CIT v. Kabul Chawla (2015) 234 Taxman 300/ (2016) 380 ITR 573 (Delhi)(HC) (AY. 2003-04)