https://www.taxtmi.com/caselaws?id=282689 The ITAT partially allowed the appeal by deleting the addition of Rs. 11,41,737 made by the AO. While upholding the validity of the reassessment proceedings, the ITAT found the claimed loss due to Client Code Modification (CCM) legitimate and deleted the addition. The ITAT referenced a similar case where additions for bogus losses due to CCM were deleted, concluding that the AO's actions were based on surmise and conjecture. The ITAT deemed the appellant's legal challenge to the reopening as infructuous. en-us Thu, 28 Feb 2019 00:00:00 +0530 Tue, 20 Aug 2019 06:23:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282689 The ITAT partially allowed the appeal by deleting the addition of Rs. 11,41,737 made by the AO. While upholding the validity of the reassessment proceedings, the ITAT found the claimed loss due to Client Code Modification (CCM) legitimate and deleted the addition. The ITAT referenced a similar case where additions for bogus losses due to CCM were deleted, concluding that the AO's actions were based on surmise and conjecture. The ITAT deemed the appellant's legal challenge to the reopening as infructuous. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282689