Held that the entries of unexplained liabilities found recorded in the assessee’s books of account at the time of search and entries not found recorded in the books towards expenditure incurred by the assessee satisfy the definition of undisclosed income appended in s. 271AAB, more so as the assessee has expressly accepted the existence of undisclosed income; penalty under s. 271AAB(1) as imposed by the AO is not liable to be deleted simply because the AO vide notice under s. 271AAB(1) did not specify as to under which limb of s. 271AAB(1), the penalty was proposed to be levied. On facts since the assessee has not come forward with any worthwhile explanation as regards the undisclosed income admitted by him, the conditions specified in cl. (a) of s. 271AAB(1) have not been complied with and therefore, penalty levied by the AO under cl. (c) of s. 271AAB(1) is upheld. (AY. 2016-17)