Addition for undisclosed income justified if Assessee failed to file details of creditors

Arabinda Konar Vs ITO (ITAT Kolkata) ITAT held that additions framed on account of undisclosed income being sustained in part is justified, where assessee was required to file complete details of such friends and relatives and also the details of sales but the same has not been done at any stage. The assessee is claiming that the source of the said deposits i.e. cash and cheque is partly from loans taken from various friends and relatives, partly from sale proceeds of business carried on by him which have been diverted to his bank account and part of the credits is on account of the money take...