https://www.taxtmi.com/caselaws?id=447351 ITAT Kolkata allowed the assessee's appeal against addition made based on alleged income shifting through client code modification. The tribunal held that additions cannot be made solely on DDIT report without independent verification by AO. The assessee maintained proper books of account and furnished all documents for F&O segment transactions through the broker. Since AO accepted F&O transaction losses but doubted only transactions through one registered broker based solely on DDIT report, and CIT(A) relied on SEBI's DDIT report without independent findings, the tribunal directed deletion of the addition. en-us Thu, 21 Dec 2023 00:00:00 +0530 Sat, 23 Dec 2023 09:43:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447351 ITAT Kolkata allowed the assessee's appeal against addition made based on alleged income shifting through client code modification. The tribunal held that additions cannot be made solely on DDIT report without independent verification by AO. The assessee maintained proper books of account and furnished all documents for F&O segment transactions through the broker. Since AO accepted F&O transaction losses but doubted only transactions through one registered broker based solely on DDIT report, and CIT(A) relied on SEBI's DDIT report without independent findings, the tribunal directed deletion of the addition. Case-Laws Income Tax Thu, 21 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447351