https://www.taxtmi.com/caselaws?id=755611 ITAT Delhi dismissed the appeal in a case involving client code modification (CCM) in NSE's futures and options segment. The assessee had 54 trades modified over three specific days, converting profits to losses. Investigation by DIT(I CI) revealed brokers misused CCM facility to create fictitious losses/profits, receiving 0.5-2% commission. The AO correctly added 1.25% commission on claimed losses. The tribunal found the transactions suspicious and not bonafide, upholding the CIT(A)'s decision as the assessee failed to provide supporting arguments. en-us Wed, 03 Jul 2024 00:00:00 +0530 Tue, 16 Jul 2024 08:37:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755611 ITAT Delhi dismissed the appeal in a case involving client code modification (CCM) in NSE's futures and options segment. The assessee had 54 trades modified over three specific days, converting profits to losses. Investigation by DIT(I CI) revealed brokers misused CCM facility to create fictitious losses/profits, receiving 0.5-2% commission. The AO correctly added 1.25% commission on claimed losses. The tribunal found the transactions suspicious and not bonafide, upholding the CIT(A)'s decision as the assessee failed to provide supporting arguments. Case-Laws Income Tax Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755611