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AO’s view on CSR Expenditure allowable u/s 80G is plausible – No ground for 263 Revision
Case Law Details
- Case Name
- WorldQuant Research (India) Private Limited Vs PCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Mumbai
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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...
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