ITAT Directs AO: Delete Addition for Client Code Modification, No SEBI Violation Found

Anavya Investments Pvt. Ltd Vs ITO (ITAT Delhi) The case of Anavya Investments Pvt. Ltd. vs. ITO (Income Tax Officer) before the ITAT (Income Tax Appellate Tribunal) Delhi revolves around the reassessment proceedings initiated by the Assessing Officer (AO) for the assessment year 2010-11. The AO reopened the assessment based on information received regarding alleged tax evasion practices involving fictitious profits/losses through Client Code Modification (CCM) in the Future & Options (F & O) segment of the National Stock Exchange (NSE). The AO believed that the assessee had failed to ...