Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Validity of reopening of assessment - The allegation is of bogus ...

Income Tax

January 18, 2017

Validity of reopening of assessment - The allegation is of bogus loss from brokers by client code modification being booked in the accounts - such loss was not placed before the AO for consideration - reopening sustained - HC

View Source

 


 

You may also like:

  1. Validity of reopening of assessment u/s 147 - basis of client code modification - Merely, there were client codes modifications carried out by the broker cannot the...

  2. Bogus loss from client code modification (CCM) and stage- managing - when there is no such violation pointed out during the course of hearing that assessee’s broker...

  3. Addition on account of client code modification done by the broker to shift the profit - As such there is no whisper in the order of the authorities below that there was...

  4. Addition of losses by using Client Code Modification - Appellant has not given satisfactory explanation with respect to the losses incurred by using Client Code...

  5. Addition of profit shifted out and the loss shifted in by way of Client code modification - Profit or the loss during the time when code were modified - transactions in...

  6. Validity of reopening of assessment - It is well settled Law that validity of the reassessment proceedings is to be judged with reference to the reasons recorded for...

  7. Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

  8. Disallowance of bogus loss - No information is available on record as to how the assessee company has taken loss from these client code modification - No details have...

  9. Revocation of Customs Broker license - Regulation 10(n) requires the Customs Broker to verify correctness of Importer Exporter Code (IEC) number, Goods and Services Tax...

  10. Additions on account of Client-code modification (CCM) - undisclosed profit on future and option transaction in shares - Whole basis of making additions in the hands of...

  11. Disallowance of assessee's claim of exceptional losses on account of certain trades - Actually if there is any loss incurred on the said transaction, the same shall have...

  12. Reopening of assessment u/s 147 - assessment after 4 years - reason to suspect OR reason to believe - Reopening of assessment which is already concluded under Section...

  13. Reopening of assessment u/s 147 - In the reasons for reopening, AO has not nowhere indicated that the business loss suffered by the assessee can be treated speculation...

  14. Short deduction / collection of Security Transaction Tax (STT) - Liability of National Stock Exchange (NSE) - On occasions where client codes for institutional trades...

  15. Suppression of profit - hare / stock broker - fictitious loss by way of Client Code Modification (CCM) - except for general observation of investigation wing, there was...

 

Quick Updates:Latest Updates