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2002 (10) TMI 51 - HC - Income TaxIncome from Undisclosed Sources - The issue relates to the addition of a sum of Rs. 2,13,982 which was introduced in the accounts of the appellant. The explanation of the appellant was that the said amount came from the partnership firm, C.K.G. Agencies, of which the appellant is the managing partner. - It is significant to note that the appellant was the managing partner of the firm and he had a duty to see that the day book in which the daily transactions of the firm are recorded is properly maintained and accounts are written properly on the basis of such documents. Since the appellant had not made any efforts towards that direction, it cannot be said that the appellant had satisfactorily explained the source for the credits made in the books of account.
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