9911796707
TMI Blog2023 (10) TMI 405X X X X Extracts X X X X X X X X Extracts X X X X ..... fully convinced with the explanation offered, yet taking note of the fact that this appeal had been preferred by the Income Tax department under 260A of the Income Tax Act, 1961 (the Act) and we are required to consider as to whether any substantial questions of law arise for consideration, we exercise discretion in the matter and condone the delay in filing the appeal. The assessee is a company engaged in the business of mining iron ore and manganese. It filed its return of income for the assessment year under consideration i.e. A.Y. 2014-15 and the assessment was completed under Section 143(3) of the Act by order dated 29th December, 2006. During the course of assessment proceedings the Assessing Officer raised a query with regard to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r development of roads, construction of well, distribution of clothes, flood relief etc. to the local people as per the direction of the local administration and taking into consideration the welfare of the locality. Before the CIT(A) it was contended by the assessee that the periphery development expense was nothing but a corporate social responsibility (CSR) of the assessee company which was carrying out the mining operations in Joda, Orissa State. Further, it was mandatory for the mining industries to look after the development of the area in which mines were operating on account of creating employment opportunities, providing educational facilities to the children etc. Further, it was contended that the expenses incurred by the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... expenditure having been claimed by the assessee as of deduction for the assessment year 2014-15 and the mining which was made by adding explanation to Section 37(1) of the Act would not be applicable as it was with effect from the assessment year 2015-16. Thus, on a factual re-appraisal the Learned Tribunal was satisfied that the CSR expenditure incurred prior to the assessment year 2015-16 are allowable as business expenditure as the same are wholly and exclusively incurred for the purpose of business. Thus, on being satisfied with the factual matrix the Learned Tribunal dismissed the appeal filed by the revenue. Thus, we find that in this appeal no question of law, much less substantial question of law, arises for consideration. Accord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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