https://www.taxtmi.com/caselaws?id=389105 The tribunal held that the Assessing Officer's assessment order was not erroneous or prejudicial to revenue regarding the contributions to the Settlement Guarantee Fund (SGF) and Investor Service Fund (ISF). The contributions were deemed necessary for business operations and allowable as business expenditures under section 37 of the Income Tax Act. As a result, the revision order under section 263 initiated by the Principal Commissioner of Income Tax was quashed, and the appeal of the assessee was allowed, upholding the original assessment order by the Assessing Officer. en-us Fri, 04 Oct 2019 00:00:00 +0530 Sat, 30 Nov 2019 15:55:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389105 The tribunal held that the Assessing Officer's assessment order was not erroneous or prejudicial to revenue regarding the contributions to the Settlement Guarantee Fund (SGF) and Investor Service Fund (ISF). The contributions were deemed necessary for business operations and allowable as business expenditures under section 37 of the Income Tax Act. As a result, the revision order under section 263 initiated by the Principal Commissioner of Income Tax was quashed, and the appeal of the assessee was allowed, upholding the original assessment order by the Assessing Officer. Case-Laws Income Tax Fri, 04 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389105