https://www.taxtmi.com/caselaws?id=263056 The ITAT upheld the CIT(A)'s decision in dismissing the Revenue's appeals. The client code modifications were deemed acceptable and not illegal, with clients complying with regulations and reporting profits. The reliance on an appraisal report without independent verification weakened the case, and no evidence supported profit shifting or tax evasion allegations. The additions were deleted due to lack of substantial evidence, emphasizing the importance of independent evaluation in such cases. en-us Fri, 07 Aug 2015 00:00:00 +0530 Wed, 26 Aug 2015 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263056 The ITAT upheld the CIT(A)'s decision in dismissing the Revenue's appeals. The client code modifications were deemed acceptable and not illegal, with clients complying with regulations and reporting profits. The reliance on an appraisal report without independent verification weakened the case, and no evidence supported profit shifting or tax evasion allegations. The additions were deleted due to lack of substantial evidence, emphasizing the importance of independent evaluation in such cases. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263056