https://www.taxtmi.com/caselaws?id=462623 ITAT Mumbai quashed PCIT's revision order u/s 263 challenging AO's allowance of deduction u/s 80G for CSR donations and bank charges. Tribunal held that sections 37(1) and 80G operate independently - CSR expenditure disallowed under business expenses can still qualify for deduction u/s 80G if paid to charitable organizations, except for specific funds mentioned in section 80G(2)(a). Bank charges were revenue expenditure incurred wholly for business purposes. PCIT failed to establish how AO's order was erroneous or prejudicial to revenue interest. Assessment order restored, assessee's appeal allowed. en-us Mon, 05 Aug 2024 00:00:00 +0530 Fri, 04 Jul 2025 19:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462623 ITAT Mumbai quashed PCIT's revision order u/s 263 challenging AO's allowance of deduction u/s 80G for CSR donations and bank charges. Tribunal held that sections 37(1) and 80G operate independently - CSR expenditure disallowed under business expenses can still qualify for deduction u/s 80G if paid to charitable organizations, except for specific funds mentioned in section 80G(2)(a). Bank charges were revenue expenditure incurred wholly for business purposes. PCIT failed to establish how AO's order was erroneous or prejudicial to revenue interest. Assessment order restored, assessee's appeal allowed. Case-Laws Income Tax Mon, 05 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462623