https://www.taxtmi.com/caselaws?id=781568 Refund from the Investor Protection Fund is treated as admissible where deposits were made for the purpose of executing trades on the exchange platform, even if no actual trading took place. The applicable circular was read as limiting eligibility to exchange-linked transactions and amounts deposited for trading, and the facts were found materially similar to an earlier matter in which refund had been granted on reconsideration. As there was no material showing any purpose other than trading, and the broker's debarment removed any practical opportunity for further trading, the non-trading objection was rejected on the facts and the refund claim was allowed. en-us Wed, 02 Jul 2025 00:00:00 +0530 Mon, 17 Nov 2025 15:52:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781568 Refund from the Investor Protection Fund is treated as admissible where deposits were made for the purpose of executing trades on the exchange platform, even if no actual trading took place. The applicable circular was read as limiting eligibility to exchange-linked transactions and amounts deposited for trading, and the facts were found materially similar to an earlier matter in which refund had been granted on reconsideration. As there was no material showing any purpose other than trading, and the broker's debarment removed any practical opportunity for further trading, the non-trading objection was rejected on the facts and the refund claim was allowed. Case-Laws SEBI Wed, 02 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781568