Addition u/s. 69C unsustainable as nature of expenditure & source explained

Jeppiaar Educational Trust Vs ACIT (ITAT Chennai) ITAT Chennai held that Once, nature of expenditure and source is explained, then the question of making additions towards refund money as unexplained expenditure u/s. 69C of the Income Tax Act does not arise. Facts- The assessee M/s. Jeppiaar Educational Trust is registered u/s. 12A of the Income-tax Act, 1961 is imparting education and running various educational institutions. A search operation u/s. 132 of the Act was conducted in the case of the assessee. During the course of search, seized material was found which contains details of refund...