Tribunal held that disclosure made in the revised return after survey to purchase peace and to avoid litigation was not a voluntary disclosure but an attempt to avoid the situation created by the Investigation Wing during the survey more particularly since the assessee had been confronted with the incriminating materials found therein. The intention of the assessee in disclosing the amount in the revised return did not prove his bona fides nor was the surrender of income voluntary. If the conduct of the assessee came under the purview of Explanation 1 to section 271(1)(c) the income disclosed by him represented income in respect of which particulars had been concealed. The voluntary disclosure did not release the assessee from the mischief of penalty proceedings. The assessee failed to prove the genuineness or creditworthiness and identity of the persons who had given share capital and premium. Had it been the intention of the assessee to disclose the income voluntarily the assessee would have disclosed the income by filing the revised return before the survey. Explanation 1A to S.271(1)(c), therefore, was fully satisfied accordingly the levy of penalty is held to be justified. (AY.2009 -10)