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2021 (8) TMI 940 - AT - Income TaxDisallowances being CSR expenditure incurred by the assessee and claimed as deductible expenditure - HELD THAT:- Assessee claimed that these are incurred for the business activity of the company. The facts shows that the assessee is machine manufacturer and the expenditure incurred in Odisha has not been shown before the lower authorities that same are incurred for the purpose of the business. In view of this, it does not satisfy the conditions prescribed u/s 37(1) of the Act. Further, it not the case that the expenditure is otherwise allowable to the assessee u/s 37(1) of the Act and because explanation added by Financial Act 2018 applicable from AY 2015-16 the disallowances is made. Therefore, it is imperative that even before the assessment year 2015-16 to get the deduction u/s 37(1) of the act of the corporate social responsibility expenditure assessee must satisfy the conditions envisaged u/s 37(1) - No infirmity in the order of the ld CIT(A) in confirming the disallowances. - Decided against assessee. Disallowances on account of interest paid for late deposit of TDS - HELD THAT:- As relying on CHENNAI PROPERTIES AND INVESTMENTS LIMITED [1998 (4) TMI 89 - MADRAS HIGH COURT] we confirm the action of the lower authorities in disallowing the interest expenditure for late deposit of TDS. - Decided against assessee.
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