Validity of reopening of assessment - The allegation is of bogus ...

Tax Assessment Reopened: Alleged Bogus Loss via Client Code Modifications Justifies Reassessment by Authorities.

January 18, 2017

Case Laws Income Tax HC

Validity of reopening of assessment - The allegation is of bogus loss from brokers by client code modification being booked in the accounts - such loss was not placed before the AO for consideration - reopening sustained - HC

View Source

← Previous Next →

Validity of reopening of assessment - The allegation is of bogus ...

Tax Assessment Reopened: Alleged Bogus Loss via Client Code Modifications Justifies Reassessment by Authorities.

January 18, 2017

Case Laws Income Tax HC

You may also like:

Addition of losses by using Client Code Modification - Appellant has not given satisfactory explanation with respect to the losses incurred by using Client Code...

Validity of reopening of assessment u/s 147 - basis of client code modification - Merely, there were client codes modifications carried out by the broker cannot the...

Bogus loss from client code modification (CCM) and stage- managing - when there is no such violation pointed out during the course of hearing that assessee’s broker...

ITAT upheld deletion of additions made regarding alleged bogus commodity trading transactions through Client Code Modification. The Special Fraud Investigation Office...

Addition of profit shifted out and the loss shifted in by way of Client code modification - Profit or the loss during the time when code were modified - transactions in...

Additions on account of Client-code modification (CCM) - undisclosed profit on future and option transaction in shares - Whole basis of making additions in the hands of...

Appellate Tribunal examined disallowance of claim for futures and options (F&O) loss by Assessing Officer (AO) based on report alleging stock brokers manipulated...

Disallowance of bogus loss - No information is available on record as to how the assessee company has taken loss from these client code modification - No details have...

Addition on account of client code modification done by the broker to shift the profit - As such there is no whisper in the order of the authorities below that there was...

Assessment u/s 153A - Addition made on account of disclosure of undisclosed income made u/s 132(4) - client code modifications for an unusually high number of times -...

Allowability of alleged fictitious loss by way of Client Code Modification (CCM) - nothing has been brought on record to suggest that the said losses were purchased and...

Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

Suppression of profit made by way client code modification - none of the clients has been found to be bogus and all of them have complied with KYC norms, meaning thereby...

Reopening of assessment u/s 147 for "non-genuine loss" on account of assessee's transactions in futures and options (F&O) was unjustified. The reasons recorded did not...

Validity of reopening of assessment u/s 147 - CIRP proceedings - The proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be pressed into service to...

Quick Updates: