modus
operandi adopted Share Brokers during
Modification of Client Code to manipulate
income/loss of their clients. The investigation
team has conducted surveys ... were carried out from
assessee's client code then subsequently
client code was modified to other client the
details of such case
different client/beneficiaries, according to their
requirements to enhance or reduce the tax liability. The
Directorate obtained client code modification (CCM) data ... such that the original client code/name and the modified client
code/name are similar to each other.
ii) Modification within relatives.
iii) Any similar
code modification in
number of trades contracts involving different clients during FY
2009-10 to 2011-12 and the total amount involved in client code ... typing such that original client code/name and the
modified client code/name are similar to each other.
[2] Modification within relatives.
[3] Any similar
code modification and therefore, on the basis of
such circular, it must be held that errors in punching in the
client's code ... that revised Client
Code Modification timing w.e.f. Saturday 9th July 2011 as under:
a. The facility of client code modifications is allowed
dispute that the client code modifications had taken place in the case of the
petitioner. This modification facility is used by some brokers to transfer ... Officer for
re-adjudication for the limited purpose of verifying the client code
modifications are wrong and denied. The Tribunal has remanded the issue
Investment, a share broker who is
alleged to have misused the Client Code Modification facility. He
submitted that this was pointed out to the Assessing
deleting the addition made on account of suppressed profit
through client code modification?"
To be heard with Tax Appeal
