CSR Donations Eligible u/s 80G – 263 Revision Quashed-ITAT Mumbai

Chandan Steel Limited Vs PCIT (ITAT Mumbai) Facts: Assessee filed return declaring income of ₹27.51 Cr. Scrutiny was initiated, specifically to examine Chapter VI-A deductions. AO passed assessment u/s 143(3) r.w.s. 144B accepting returned income.PCIT later invoked revision u/s 263, noting that assessee had debited ₹39.93 lakh towards CSR, added it back in computation, but simultaneously claimed deduction u/s 80G. PCIT held deduction u/s 80G on CSR spend as not allowable, treating AO’s order as erroneous & prejudicial to revenue. Directed AO to re-examine deduction. Assessee’s Con...