TMI Blog2019 (11) TMI 918X X X X Extracts X X X X X X X X Extracts X X X X ..... he lower authority and accordingly the same is confirmed. Merit of the claim of disallowance made by the Assessing Officer, as rightly submitted by the Ld.counsel for the assessee, the transaction was made with M/s Inventure Growth Securities Ltd. by the assessee. In the list received by the Assessing Officer, the assessee s name is also found to be one of the beneficiaries who claimed bogus fictitious loss due to Client Code modification. Therefore, this Tribunal is of the considered opinion that the matter needs to be re-examined by the Assessing Officer as decided by this Tribunal in the case of Late Ugama Kavar [ 2019 (7) TMI 1536 - ITAT CHENNAI] - Thus set aside to the file of the Assessing Officer. Appeal filed by the assessee i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act'), the Ld.counsel submitted that the assessee is a trader in shares. On the basis of communication said to be received from ITO, Non Corporate Ward 7(2), the Assessing Officer reopened the assessment by issuing notice under Section 148 of the Act. According to the Ld. counsel, reopening of assessment is not justified. Referring to the second ground of appeal, the Ld.counsel submitted that some of the brokers appear to be misusing the Client Code modification facility in F O segment on National Stock Exchange. Based upon the general allegation said to be received by the Assessing Officer, according to the Ld. counsel, the case was reopened and without furnishing the details of such information, the Assessing Officer disallowed th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ower authority and accordingly the same is confirmed. 6. Now coming to the merit of the claim of disallowance made by the Assessing Officer, as rightly submitted by the Ld.counsel for the assessee, the transaction was made with M/s Inventure Growth Securities Ltd. by the assessee. In the list received by the Assessing Officer, the assessee s name is also found to be one of the beneficiaries who claimed bogus fictitious loss due to Client Code modification. Therefore, this Tribunal is of the considered opinion that the matter needs to be re-examined by the Assessing Officer as decided by this Tribunal in the case of Late Ugama Kavar (supra). Accordingly, the orders of both the authorities below are set aside and the entire ..... X X X X Extracts X X X X X X X X Extracts X X X X
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