https://www.taxtmi.com/caselaws?id=390345 The Tribunal upheld the validity of reopening the assessment under Section 147, finding that the Assessing Officer had credible information to support the reopening. Regarding the additions made on account of losses shifted in/profit shifted out due to Client Code Modification (CCM), the Tribunal granted relief for modifications falling in 'Distance 1' and 'Distance 2' categories, while upholding the Assessing Officer's actions for 'Distance 3' and 'Distance 4' categories. As a result, the appeals were partly allowed. en-us Wed, 18 Dec 2019 00:00:00 +0530 Mon, 30 Dec 2019 12:58:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390345 The Tribunal upheld the validity of reopening the assessment under Section 147, finding that the Assessing Officer had credible information to support the reopening. Regarding the additions made on account of losses shifted in/profit shifted out due to Client Code Modification (CCM), the Tribunal granted relief for modifications falling in 'Distance 1' and 'Distance 2' categories, while upholding the Assessing Officer's actions for 'Distance 3' and 'Distance 4' categories. As a result, the appeals were partly allowed. Case-Laws Income Tax Wed, 18 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390345