Mere Client Code Modification Allegation Did Not Justify Taxing Entire Commodity Purchases

DCIT Vs Dharmdeep Commodities Pvt. Ltd. (ITAT Ahmedabad) Section 68 Addition Restricted Because Only Profit Element in Commodity Trades Was Taxable; Revenue’s Section 68 Addition Fails Because Earlier ITAT Ruling Covered Identical Transactions; Penalty Relief Upheld Because Quantum Addition Was Sustained Only to Profit Element; Section 68 Addition Reduced Because Documentary Evidence Supported Commodity Transactions. The Income Tax Appellate Tribunal (ITAT), Ahmedabad, decided two departmental appeals arising from the order of the Commissioner of Income Tax (Appeals), National Faceless A...