https://www.taxtmi.com/caselaws?id=464666 ITAT MUMBAI - AT deleted the addition made by the AO that treated alleged profits from F&O client code modification as unaccounted income. The Tribunal found the department failed to establish the assessee's role or any direct nexus with the broker's misuse of client code modification, and noted NSE/SEBI had not pursued proceedings against the assessee. Relying on precedent, the ITAT held the Revenue offered only conjecture and did not prove income earned by the assessee from the scheme; the addition was unsustainable and the appeal was allowed. en-us Wed, 23 Apr 2025 00:00:00 +0530 Sat, 08 Nov 2025 14:03:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464666 ITAT MUMBAI - AT deleted the addition made by the AO that treated alleged profits from F&O client code modification as unaccounted income. The Tribunal found the department failed to establish the assessee's role or any direct nexus with the broker's misuse of client code modification, and noted NSE/SEBI had not pursued proceedings against the assessee. Relying on precedent, the ITAT held the Revenue offered only conjecture and did not prove income earned by the assessee from the scheme; the addition was unsustainable and the appeal was allowed. Case-Laws Income Tax Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464666