https://www.taxtmi.com/caselaws?id=460793 ITAT Hyderabad upheld reopening of assessment based on specific information regarding client code modification involving the assessee's broker. However, the tribunal deleted the disallowed loss of Rs. 13,48,175/- as AO failed to prove assessee's direct involvement in CCM activities, finding only presumption without evidence of specific instructions to broker. The tribunal confirmed CIT(A)'s classification of investment banker's share transactions as business income rather than capital gains, noting the assessee's primary business nature. The appeal was partly allowed. en-us Wed, 03 Jul 2019 00:00:00 +0530 Wed, 15 Apr 2026 15:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460793 ITAT Hyderabad upheld reopening of assessment based on specific information regarding client code modification involving the assessee's broker. However, the tribunal deleted the disallowed loss of Rs. 13,48,175/- as AO failed to prove assessee's direct involvement in CCM activities, finding only presumption without evidence of specific instructions to broker. The tribunal confirmed CIT(A)'s classification of investment banker's share transactions as business income rather than capital gains, noting the assessee's primary business nature. The appeal was partly allowed. Case-Laws Income Tax Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460793