Section 80G CSR donation deduction cannot be denied merely for CSR expense disallowance: Mumbai ITAT

Seamec Limited Vs DCIT (ITAT Mumbai) CSR donation deduction under section 80G cannot be denied merely because CSR expense is disallowed u/s 37(1) – Mumbai ITAT quashes revision u/s 263 In a significant ruling, the Mumbai ITAT held that CSR expenditure, though disallowable as business expenditure u/s 37(1), can still qualify for deduction u/s 80G if the statutory conditions of section 80G are satisfied. The Tribunal accordingly quashed the revision order u/s 263 passed by the PCIT against the assessee. The assessee had incurred CSR expenditure of ₹3.50 lakh by way of donations to charit...