S. Muralidhar, J.

The issue

1. These three appeals by the Revenue under Section 260A of the Income Tax Act, 1961 (“Act”) are directed against the common order dated 25th May 2014 passed by the Income Tax Appellate Tribunal (“ITAT”) in ITA Nos. 779, 780 and 781/Del/2013 relating to Assessment Years (“AYs”) 2002-03, 2005-06 and 2006-07.

2. The issue that the Court proposes to address in these appeals is the same that was considered by the ITAT viz., 'Whether the additions made to the income of the Respondent Assessee for the said AYs under Section 2(22)(e) of the Income Tax Act, 1961 (“Act”) were not sustainable because no incriminating material concerning such additions were found during the course of search and further no assessments for such years were pending on the date of search?'

Background facts

3. A search was carried out under Section 132 of the Act on 15th November 2007 on BPTP Ltd., a leading real estate developer operating all over India and mainly in the National Capital region and some of its group companies. A search was on the same date carried out in the premises of the Assessee who along with his wife Mrs. Anjali Chawla owned and controlled the group. As on the