Mere Client Code Modification by Broker Doesn’t Indicate Escapement of Assessment

Dinesh Mulji Patel Vs ITO  (ITAT Pune)

This article analyzes the recent case of Dinesh Patel vs ITO before the ITAT Pune, where the question of client code modification by a broker and its implication on tax assessment was examined. This case has become significant as it defines the parameters of the initiation of reassessment proceedings under the Income Tax Act.

Analysis: In this case, the appellant, Mr. Dinesh Patel, who is engaged in land dealing and derivative tradin

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