NSE’s Core SGF Contribution is allowable expense, not Contingency Reserve

National Stock Exchange of India Vs DCIT (ITAT Mumbai)

Introduction: The case of National Stock Exchange of India (NSE) vs. DCIT revolves around the controversy of whether NSE’s contribution to the Core Settlement Guarantee Fund (Core SGF) should be treated as a contingency reserve. The Income Tax Appellate Tribunal (ITAT) Mumbai addressed this issue in detail, offering significant insights into the nature of NSE’s contribution.

Detailed Analysis: The crux of the matter li

Please become a Premium member. If you are already a Premium member, login here to access the full content.