Addition of CSR Expenses to book profit disclosed in audited accounts not justified

GE Power Systems India Private Limited Vs ACIT (ITAT Delhi) Conclusion: Addition of CSR expenses to book profit under section 115JB was not justified as AO or assessee, none could tinker with book profit disclosed in audited account and once the accounts had been prepared in accordance with standards in this regard, this tinkering by AO had no sanction of law. Held: Assessee-company incurred a sum of Rs.48 lakhs towards CSR, and this entire sum was disallowed by assessee company in computation of its taxable income under the normal provision of the Income Tax Act but AO noted that the same was...