AO’s view on CSR Expenditure allowable u/s 80G is plausible – No ground for 263 Revision

WorldQuant Research (India) Private Limited Vs PCIT (ITAT Mumbai) AO’s view on CSR Expenditure allowable u/s 80G is plausible – No ground for 263 Revision; ITAT Mumbai quashes Sec 263 revision on CSR donation & deduction u/s 80G: Calls it debatable Issue Mumbai ITAT quashed the revisionary order passed by PCIT u/s 263, which had held the original assessment order as erroneous for allowing CSR expenditure as donation deductible u/s 80G. The company had spent ₹29.95 lakh on CSR activities, out of which it claimed ₹14.97 lakh as deductible donation u/s 80G. AO completed assessment...