Dismissing the appeal of the revenue the Tribunal held that ; the AO  having accepted the statement of total income and the return showing the income from commodities under the head “Income from other sources” could not now after a perusal of the income and expenditure account determine the character of transaction in the penalty proceedings as income from business or profession. The assessee an individual who was a salaried person engaged in the previous year relevant to the assessment year for the first time in an activity from which he derived income from other sources was not required to maintain books of account. Since the income of Rs. 2 crores was in fact entered in the other documents maintained in the normal course relating to the assessment year 2013-14, which document was retrieved during search, the amount of Rs. 3 crores offered by the assessee did not fall in the ken of “undisclosed income” defined in section 271AAB . Since Rs. 2 crores could not be termed as “undisclosed income” in terms of S. 271AAB , no penalty could be levied against the assessee.(AY.2013-14)