https://www.taxtmi.com/caselaws?id=311432 ITAT Kolkata ruled in favor of the assessee regarding addition under section 68 for disallowance of losses deemed bogus due to alleged client code modification by broker. Following the precedent in Kundan Investment Ltd. case by Calcutta HC, the tribunal held that the claimed loss was genuine and eligible for deduction. The unexplained cash credit addition was found unsustainable and directed to be deleted, allowing the assessee's appeal. en-us Fri, 31 Jan 2020 00:00:00 +0530 Tue, 26 Dec 2023 06:11:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311432 ITAT Kolkata ruled in favor of the assessee regarding addition under section 68 for disallowance of losses deemed bogus due to alleged client code modification by broker. Following the precedent in Kundan Investment Ltd. case by Calcutta HC, the tribunal held that the claimed loss was genuine and eligible for deduction. The unexplained cash credit addition was found unsustainable and directed to be deleted, allowing the assessee's appeal. Case-Laws Income Tax Fri, 31 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311432