Bar on CSR Deduction u/s 37(1) Doesn’t Affect Section 80G Claims: ITAT Bangalore

Goldman Sachs Services Private Limited Vs JCIT (ITAT Bangalore) Income Tax Appellate Tribunal (ITAT) Bangalore has ruled in favor of Goldman Sachs Services Private Limited, dismissing appeals by the Joint Commissioner of Income Tax (JCIT) for the Assessment Year (AY) 2015-16. The Tribunal’s decision, issued on [Current Date: July 3, 2025], addressed three key disputes: a transfer pricing adjustment, disallowance under Section 14A, and the eligibility for Section 80G deduction for Corporate Social Responsibility (CSR) expenses, as well as the disallowance under Section 40(a)(ia) related t...