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ITAT Delhi Deletes Addition on Alleged Bogus Loss from Client Code Modification – No Evidence of Misuse
Case Law Details
- Case Name
- ACIT Vs Shri Ravi Shankaran (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Delhi
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ACIT Vs Shri Ravi Shankaran (ITAT Delhi)
ITAT Delhi Deletes Addition on Alleged Bogus Loss from Client Code Modification – No Evidence of Misuse Revenue appealed against CIT(A)’s order deleting addition of ₹3.63 crore, which AO had disallowed treating loss from Client Code Modification (CCM) as non-genuine.
Assessee, engaged in share transactions through registered broker Pace Stock Broking Services Pvt. Ltd., had filed return declaring loss of ₹5.44 crore. AO, based on Investigation Wing report from Ahmedabad, alleged misuse of CCM to purchase losses & reopened assessment u/s 147....
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