(4)The provisions of sections 274 and 275 shall, so far as may be, apply in relation to the penalty referred to in this section.Explanation. - For the purposes of this section,-(a)"undisclosed income" means-(i)any income of the specified previous year represented, either wholly or partly, by any money, bullion, jewellery or other valuable article or thing or any entry in the books of account or other documents or transactions found in the course of a search under section 132, which has-(A)not been recorded on or before the date of search in the books of account or other documents maintained in the normal course relating to such previous year; or(B)otherwise not been disclosed to the Chief Commissioner or Commissioner before the date of search; or(ii)any income of the specified previous year represented, either wholly or partly, by any entry in respect of an expense recorded in the books of account or other documents maintained in the normal course relating to the specified previous year which is found to be false and would not have been found to be so had the search not been conducted;(b)"specified previous year" means the previous year-(i)which has ended before the date of search, but the date of filing the return of income under sub-section (1) of section 139 for such year has not expired before the date of search and the assessee has not furnished the return of income for the previous year before the said date; or(ii)in which search was conducted.]
