Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
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 4803
Join Channel
TaxTMI 
