Whether, even if no incriminating document is found during the search but assessee makes some voluntary disclosure, penalty is still warranted?

Abdul Razzak A Rajkotia Vs ACIT (ITAT Mumbai)- There is no material worth the name found at the time of search divulging the undisclosed income earned by the assessee by way of unrecorded sales. Seized material relates to unrecorded sale by the `Compay’ and that too for a period of 18 days from 0 1.04.2003 to 18.04.2003. Neither there is any mention of such seized material containing the unrecorded sales of the assessee’s proprietorship concern, nor it is the case of the Assessing Officer that there was anything else to show that the assessee was also indulging in recording sales partly o...