Held that the addition of Rs. 40 lakhs was not based on any material discovered during search in any form described therein the definition of undisclosed income under section 271AAA of the Act. Based on the bald statement of B, Rs. 3.78 crores (out of Rs. 34 crores) was admitted which included Rs. 40 lakhs. Since Rs. 40 lakhs could not be attributed to any money, bullion, jewellery, article or transaction or entry or documents which had not been recorded in the books for the previous year when searched, the sum could not fall in the ken of the definition of undisclosed income for the purpose of levying penalty under section 271AAA of the Act. The amount of Rs. 40 lakhs had been brought to tax by the Assessing Officer though not shown by the assessee in the return of income, the penalty under section 271AAA of the Act could not be legally sustained.(AY.2012-13)