ITAT held that CSR payments, though disallowed as business...

ITAT held that CSR payments, though disallowed as business expenditure u/s 37(1), may still qualify for deduction u/s 80G when computing total taxable income, subject to statutory conditions, and that denying such deduction would amount to impermissible double disallowance. The issue of quantum and eligibility u/s 80G was remanded to AO for verification. On short-term capital loss from building, ITAT held that allowability depends on whether the sold asset was the sole asset in the relevant block u/s 50, and remanded the matter to AO for factual verification. Deletion by CIT(A) of addition for alleged excess 24KT gold stock was upheld, and Revenue's appeal was dismissed.