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CSR Donations Eligible u/s 80G – 263 Revision Quashed-ITAT Mumbai
Case Law Details
- Case Name
- Chandan Steel 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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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....
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