CSR Donations Qualify for Section 80G Deduction: ITAT Delhi

Cosmo First Limited Vs ITO (ITAT Delhi) The ITAT Delhi partly allowed the assessee’s appeal for Assessment Year 2020-21, involving corporate tax and transfer pricing issues arising from the final assessment order passed under Sections 143(3), 144C(13), and 144B of the Income-tax Act. The additions related to disallowance of deduction under Section 80G, transfer pricing adjustment on outstanding receivables, and other claims made during assessment proceedings. On the issue of deduction under Section 80G, the Assessing Officer and the DRP disallowed the assessee’s claim of ₹1.19 cr...