https://www.taxtmi.com/highlights?id=105080 Revisionary jurisdiction requires an assessment order to be both erroneous and prejudicial to Revenue and cannot merely replace one plausible view with another. Deduction for contributions to a Core Settlement Guarantee Fund required enquiry into whether payment created an accrued business liability or constituted a corpus for potential future defaults. Examination of genuineness and reasonableness alone was insufficient, given the fund's segregation, accumulated corpus and interest income. The ITAT sustained limited revision because the Assessing Officer had not undertaken requisite verification, directing fresh examination after hearing the assessee while leaving deductibility open. en-us Fri, 16 Oct 2026 05:20:55 +0530 Fri, 16 Oct 2026 05:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=105080 Revisionary jurisdiction requires an assessment order to be both erroneous and prejudicial to Revenue and cannot merely replace one plausible view with another. Deduction for contributions to a Core Settlement Guarantee Fund required enquiry into whether payment created an accrued business liability or constituted a corpus for potential future defaults. Examination of genuineness and reasonableness alone was insufficient, given the fund's segregation, accumulated corpus and interest income. The ITAT sustained limited revision because the Assessing Officer had not undertaken requisite verification, directing fresh examination after hearing the assessee while leaving deductibility open. Highlights Income Tax Fri, 16 Oct 2026 05:20:55 +0530 https://www.taxtmi.com/highlights?id=105080