CSR Expenses Not Disallowed: Explanation 2 to Section 37(1) of Income Tax Act Not Applicable in This Case.

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....Disallowance of corporate social responsibility expenses - There is no dispute that the expenses in question are not incurred under the aforesaid statutory obligation. For this reason also, as also for the basic reason that the Explanation 2 to Section 37(1) comes into play with effect from 1st April 2015, we hold that the disabling provision of Explanation 2 to Section 37(1) does not apply on the facts of this case. - AT....