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2021 (2) TMI 571 - AT - Income TaxDisallowance expenditure debited under the head “Can-viroment Expenses A/c” as “Corporate Social responsibilities” expenditure - As per AO Expenditure being not incurred directly related to earning of the income, it was not incurred wholly and exclusively for the purpose of the business, and accordingly disallowed the same - HELD THAT:- The Explanation -2 has been inserted below the section 37 (1) of the Act with effect from 01/04/2015 i.e. assessment year 2015-16. According to the said Explanation, corporate social responsibility expenditure incurred shall not be deemed to be incurred wholly and exclusively for the purpose of business or profession. This amendment being effective from assessment year 2015-16, is not applicable in the instant assessment year. Thus, respectfully following the order of the Tribunal in [2019 (8) TMI 1642 - ITAT DELHI] we delete the addition in dispute in the year under consideration. The grounds of the appeal accordingly allowed.
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