https://www.taxtmi.com/caselaws?id=303318 The Tribunal allowed the assessee's appeal on all grounds. The disallowance under Section 14A was deemed unwarranted as no expenses were incurred for the investment. CSR expenditure was allowed as a business expense under Section 37(1) since the amendment was not retrospective. Education Cess was considered a deductible expense under Section 37 as it was not part of income tax. The judgment highlighted adherence to specific provisions of the Income Tax Act, supported by judicial precedents and CBDT circulars. en-us Tue, 18 Jan 2022 00:00:00 +0530 Wed, 13 Jul 2022 20:41:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303318 The Tribunal allowed the assessee's appeal on all grounds. The disallowance under Section 14A was deemed unwarranted as no expenses were incurred for the investment. CSR expenditure was allowed as a business expense under Section 37(1) since the amendment was not retrospective. Education Cess was considered a deductible expense under Section 37 as it was not part of income tax. The judgment highlighted adherence to specific provisions of the Income Tax Act, supported by judicial precedents and CBDT circulars. Case-Laws Income Tax Tue, 18 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303318