Unrecorded exp. should be reduced from unrecorded income for computation of concealment penalty

IT: Where in course of search, it was found that assessee had earned unrecorded income and, moreover, there was certain expenditure not recorded in regular books of account, Assessing Officer was to be directed to work out penalty under section 271(1)(c) on net of unrecorded expenditure i.e. unrecorded expenditure less unrecorded income