The AO levied the penalty. On appeal the Commissioner (Appeals) recorded the finding that the assessee did not make the disclosure under section 132(4) and that the disclosure was fundamentally a consequence of the search whereby certain irregularities were detected by the Investigation Wing and the assessee made the disclosure to cover hitherto undisclosed earnings, and sustained the penalty holding that there was no element of voluntary disclosure per se. Tribunal affirmed the order  of the CIT(A).  (AY.2012-13)