ITAT Directs Re-adjudication on Client Code Modification

Rajani S Iyer Vs ITO (ITAT Mumbai) Introduction: In a recent development, the Income Tax Appellate Tribunal (ITAT) has directed re-adjudication on a significant case involving client code modification. The case, Rajani S Iyer Vs ITO (ITAT Mumbai), pertains to the assessment year 2009-10 and has raised crucial questions about the authenticity of transactions involving client code modification. Background: The appellant, Rajani S Iyer, an individual, initially declared a loss of Rs.7,46,724/- in her income tax return filed on September 24, 2009. However, the case took a turn when information f...