International transaction benchmarking restricts transfer pricing adjustments to associated-enterprise dealings, while functional comparability govern...
Joint development agreements defer taxable transfer where possession lacks part performance, while completed flats determine consideration and exempti...
Passenger baggage re-export requires true declaration and cannot be granted indirectly through discretionary redemption of undeclared prohibited goods...
The ITAT Delhi ruled on denial of deduction u/s 80G for donations made as part of CSR expenditure. The appellant suo-motu disallowed the donations u/s 37(1). The tribunal held that CSR expenditure is part of the assessee's income and does not correlate with deduction u/s 80G. CSR donations are voluntary as they lack reciprocal promise. The Act allows deduction u/s 80G even without reciprocity. The tribunal sustained the deduction under section 80G. Regarding TDS credit, the tribunal referred to a previous case where TDS credit was allowed in the same year as income accrual. As the income was taxed in the relevant year, the appellant rightly claimed TDS credit. The appeal of the assessee was allowed.
The ITAT Delhi ruled on denial of deduction u/s 80G for donations made as part of CSR expenditure. The appellant suo-motu disallowed the donations u/s 37(1). The tribunal held that CSR expenditure is part of the assessee's income and does not correlate with deduction u/s 80G. CSR donations are voluntary as they lack reciprocal promise. The Act allows deduction u/s 80G even without reciprocity. The tribunal sustained the deduction under section 80G. Regarding TDS credit, the tribunal referred to a previous case where TDS credit was allowed in the same year as income accrual. As the income was taxed in the relevant year, the appellant rightly claimed TDS credit. The appeal of the assessee was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4796
Join Channel
TaxTMI 
