KoinX’s software defaulted missing transaction histories to a ₹0 value foundation, leading to closely inflated capital features/tax liabilities. Their assigned CAs handed the submitting without verification. After admitting the error, KoinX promised a refund multiple occasions within 24–48 hours, however 15+ days later, no refund has been processed. I am now ditching their system completely, recalculating independently by way of Google's Antigravity engine, and hiring an unbiased CA to file a Section 119(2)(b) condonation request with the IT Department.

???? 1. Software Glitches & Inflated Tax Liability

• Zero Value Basis Default: KoinX’s automated system flagged Binance transactions with "Lacking Acquisition Historical past" and defaulted the fee basis to ₹0, artificially inflating positive factors on paper.
• No CA Verification: Despite paying for skilled CA filing, the assigned CA passed the filing without flagging the zero-cost entries or asking for missing knowledge.
• Self-Custody Misclassification: Inner transfers and unintentional wallet deposits/returns have been incorrectly factored in as taxable events, corrupting the ultimate numbers.

⏳ 2. The 15+ Day Refund Delay Loop

After realizing the filing was compromised, I requested a refund for the service & CA fees to pursue a corrected filing by means of a third celebration. Help has constantly kicked the bucket down the street:

• Oct 21: KoinX confirmed the refund was "initiated" (7 working days ETA).
• Oct 29: 7 working days handed — no refund.
• Oct 30 – Nov 2: Agents stored passing the difficulty to the "finance group".
• Nov 2 (5:09 PM): Official e-mail: "Refund initiated. You must receive the quantity inside 48 hours."
• Nov three (6:12 PM): Comply with-up e mail: "Refund will probably be processed inside 24–48 hours."
• Nov 4: Over 48 hours handed — still nothing. In the meantime, help tried auto-closing the ticket citing inactivity while giving similar canned responses.

????️ three. How I Am Fixing This (Recalculation & Condonation Workflow)

If your return was messed up by automated platforms, do NOT wait for their inner CAs. Here is the restoration technique I'm taking:

1. Unbiased FIFO Recalculation: Re-running all uncooked pockets and change CSVs regionally utilizing Google's Antigravity engine to:
   • Filter non-taxable self-custody transfers and mistake deposits/returns.
   • Reconstruct accurate FIFO value foundation matching (making certain value foundation isn't defaulted to zero).
   • Generate a verified, audit-ready Schedule VDA ledger.
2. Outsourcing to a New Unbiased CA: Handing over the Antigravity audit report, unique filed ITR acknowledgements, and Type 26AS/AIS knowledge to a third-party CA.
3. Filing Condonation of Delay u/s 119(2)(b): Submitting an software on the Revenue Tax e-Submitting Portal underneath Section 119(2)(b) on account of "real hardship brought on by defective third-party software program calculations," attaching the verified ledger and e mail proofs as proof or physically submitting condonation letter and documents on to PCIT if the web choice isn't obtainable.

???? What You Ought to Do:

1. Audit Your Tax Stories: Double-check your Schedule VDA or crypto reviews generated by KoinX line-by-line to ensure missing value basis defaults haven't inflated your good points.
2. Demand Accountability: Do not accept unverified software calculations when paying for skilled CA assistance.
3. Shopper Grievance: login to https://e-jagriti.gov.in/login and register a shopper grievance towards KoinX for the refund of the amount paid for the providers together with tax reviews and CA.

Has anyone else experienced comparable cost-basis errors or countless refund stalling with KoinX this season? How are your CAs dealing with condonation u/s 119(2)(b)?

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