Case Law Details
Hindustan Tin Works Ltd. Vs DCIT (ITAT Delhi)
The Explanation -2 has been inserted below the section 37 (1) of the Act with effect from 01/04/2015 i.e. assessment year 2015-16. According to the said Explanation, corporate social responsibility expenditure incurred shall not be deemed to be incurred wholly and exclusively for the purpose of business or profession. This amendment being effective from assessment year 2015-16, is not applicable in the instant assessment year. Thus, respectfully following the order of the Tribunal (supra), we delete the addition in dispute in the year under consideration. The grounds of the appeal accordingly allowed.
FULL TEXT OF THE ORDER OF ITAT DELHI
This appeal by the assessee is directed against order dated 16/08/2017 passed by the learned CIT(Appeals)-35, New Delhi [in short ‘the Ld. CIT(A)’] for assessment year 2014-15 raising following grounds:
1. That on the facts and in the circumstances of the case and in law the Learned Commissioner of Income Tax (Appeal) erred in dismissing the appeal of appellant company and retaining disallowance of Rs.4,82,677/-in the order passed by Ld. Deputy Commissioner of Income Tax Circle-n(2) New Delhi u/s 143(3) of the Income Tax Act, 1961.
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