CSR expenses incurred by making donations are eligible for deduction under Section 80G
Last updated: 11 August 2022
Court :
ITAT Kolkata
Brief :
It was held that from a plain reading of the Explanation 2 to Section 37(1), expenditure incurred towards CSR activities shall not be allowed as 'business expenditure' and shall be deemed to have not been incurred for business. The embargo created by this Explanation 2 inserted in Section 37 by the Finance (No. 2) Act, 2014 was to deny the deduction for CSR expenses incurred by companies, as and by way of regular business expenditure while computing’ income under the head of business and profession.
Citation :
[2021] 130 taxmann.com 118 (Kolkata - Trib.)
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FCS Deepak Pratap Singh
Published in Income Tax
Views : 2100
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