https://www.taxtmi.com/caselaws?id=462063 The SC/ITAT resolved two key tax issues: (1) CSR expenses need not be added to book profit under section 115JB of Income Tax Act, following a precedent in GE Power System India case; and (2) penalty proceedings under section 270A were premature as no penalty order was passed. The Tribunal allowed the first ground, directing exclusion of CSR expenses from MAT computation, and dismissed the penalty ground as not ripe for adjudication. en-us Thu, 01 Dec 2022 00:00:00 +0530 Mon, 19 May 2025 19:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462063 The SC/ITAT resolved two key tax issues: (1) CSR expenses need not be added to book profit under section 115JB of Income Tax Act, following a precedent in GE Power System India case; and (2) penalty proceedings under section 270A were premature as no penalty order was passed. The Tribunal allowed the first ground, directing exclusion of CSR expenses from MAT computation, and dismissed the penalty ground as not ripe for adjudication. Case-Laws Income Tax Thu, 01 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462063