https://www.taxtmi.com/caselaws?id=457167 ITAT Ranchi allowed the assessee's appeal regarding disallowance of CSR expenses. The tribunal held that CSR expenditure mandated under Companies Act, 2013 should be allowed as deduction, noting that Explanation 2 to Section 37(1) cannot operate retrospectively from August 1, 2015. Since CSR expenses were statutory obligations under Section 135 of Companies Act, 2013, the AO was directed to allow the expenditure as deduction for the relevant assessment year. en-us Wed, 22 Feb 2023 00:00:00 +0530 Mon, 09 Sep 2024 20:02:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457167 ITAT Ranchi allowed the assessee's appeal regarding disallowance of CSR expenses. The tribunal held that CSR expenditure mandated under Companies Act, 2013 should be allowed as deduction, noting that Explanation 2 to Section 37(1) cannot operate retrospectively from August 1, 2015. Since CSR expenses were statutory obligations under Section 135 of Companies Act, 2013, the AO was directed to allow the expenditure as deduction for the relevant assessment year. Case-Laws Income Tax Wed, 22 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457167