During a search, documents seized from the assessee revealed expenditures which he claimed were related to his real estate commission business. However, the assessee took contradictory stands and could not explain the discrepancies between the notings and the details provided by a developer. The developer confirmed that it had not routed any such payments through the assessee. Further, the assessee failed to explain the source of funds for the said expenditure. Upholding the concurrent findings of the lower authorities, the High Court held that in the absence of any satisfactory explanation, supporting evidence, and a clear nexus, the Assessing Officer was justified in treating the amount as unexplained expenditure under section 69C. (AY. 1999-2000 to 2005-06)