https://www.taxtmi.com/caselaws?id=470127 Mandatory contributions to a Core Settlement Guarantee Fund are deductible as business expenditure where regulatory requirements compel payment, the fund is confined to settlement obligations on clearing-member default, and the amount permanently leaves the taxpayer's control without serving its own purposes. A revised claim to reduce a suo motu disallowance relating to exempt income cannot be allowed merely because no dissatisfaction was recorded with the original computation accepted by the Assessing Officer. Since no fresh disallowance was made, the revised working requires examination on merits under applicable law; the issue is restored for fresh adjudication. en-us Thu, 13 Mar 2025 00:00:00 +0530 Thu, 16 Jul 2026 19:02:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470127 Mandatory contributions to a Core Settlement Guarantee Fund are deductible as business expenditure where regulatory requirements compel payment, the fund is confined to settlement obligations on clearing-member default, and the amount permanently leaves the taxpayer's control without serving its own purposes. A revised claim to reduce a suo motu disallowance relating to exempt income cannot be allowed merely because no dissatisfaction was recorded with the original computation accepted by the Assessing Officer. Since no fresh disallowance was made, the revised working requires examination on merits under applicable law; the issue is restored for fresh adjudication. Case-Laws Income Tax Thu, 13 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470127