https://www.taxtmi.com/caselaws?id=757980 CSR expenditure was considered in the context of Section 37(1), with the High Court upholding the Tribunal's view that the outlay was allowable as a business deduction and rejecting the Assessing Officer's capital-expenditure characterisation. The later Explanation 2 to Section 37(1) was not applied to deny deduction for the relevant assessment year, indicating prospective operation of that amendment. The Supreme Court text also records dismissal of the special leave petition on delay, without a merits ruling on the substantive tax issue. en-us Mon, 02 Sep 2024 00:00:00 +0530 Wed, 17 Jun 2026 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757980 CSR expenditure was considered in the context of Section 37(1), with the High Court upholding the Tribunal's view that the outlay was allowable as a business deduction and rejecting the Assessing Officer's capital-expenditure characterisation. The later Explanation 2 to Section 37(1) was not applied to deny deduction for the relevant assessment year, indicating prospective operation of that amendment. The Supreme Court text also records dismissal of the special leave petition on delay, without a merits ruling on the substantive tax issue. Case-Laws Income Tax Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757980