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Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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.
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