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2018 (5) TMI 1720 - AT - Income TaxWhether Corporate Social Responsibility expenses incurred by the assessee is an allowable expenditure or not? - Held that:- these expenditure has to be examined from the basis that whether it have been expended wholly and exclusively for the purposes of its business or not - since explanation (2) to section 37 (1) is introduced by the finance No. 2 of 2014 and thus cannot be applied in present case for AY 2010-11 - hence the issue is set aside to the file of AO to determine the nature of these expenditure - and its allowance u/s 37(1) - thus allowed for statistical purposes.
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