Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
The note addresses whether CSR-related donations disallowed as business expenses under Explanation 2 to section 37(1) can nonetheless qualify for deduction under section 80G. The Tribunal applied the principle that Chapter VI-A deductions operate independently and held that a donation meeting the statutory conditions for charitable deductions and routed through banking channels is eligible under section 80G despite being excluded as a business deduction; accordingly, the departmental addition was deleted. The reasoning relied on coordinate-bench precedents and the donees' approval status under the statutory scheme.
The note addresses whether CSR-related donations disallowed as business expenses under Explanation 2 to section 37(1) can nonetheless qualify for deduction under section 80G. The Tribunal applied the principle that Chapter VI-A deductions operate independently and held that a donation meeting the statutory conditions for charitable deductions and routed through banking channels is eligible under section 80G despite being excluded as a business deduction; accordingly, the departmental addition was deleted. The reasoning relied on coordinate-bench precedents and the donees' approval status under the statutory scheme.
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