Friday, September 17, 2021

CSR exp. incurred by making donations is eligible for deduction under sec. 80G: ITAT

INCOME TAX : Explanation 2 to section 37(1) which denies deduction for CSR expenses by way of business expenditure is applicable only to extent of computing 'business income' under Chapter IV-D and; it could not be extended or imported to CSR contributions which was otherwise eligible for deduction under Chapter VI;

from www.taxmann.com Latest Case Laws https://ift.tt/3nD3pY9
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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...