Substance Over Suspicion – Borrowed Satisfaction on Client Code Modification Not Valid –  ITAT Jaipur Quashes 147  

Anusha Finvest Pvt. Ltd. Vs ACIT (ITAT Jaipur) Substance Over Suspicion – Borrowed Satisfaction on Client Code Modification Not Valid –  ITAT Jaipur Quashes 147 Background Return: Filed on 24.09.2010 declaring NIL income, processed u/s 143(1). Reopening: Based on info from Principal DIT (Inv.), Ahmedabad, alleging misuse of Client Code Modification (CCM) to book contrived loss of ₹5,67,147 in AY 2010-11. AO’s Action (21.12.2017): Disallowed loss of ₹5,67,147 treating it as income from other sources. Added 3% commission (₹17,014) for alleged payment to broker. Total addition:...