CSR expense incurred on peripheral development prior to 01.04.2014 allowable

Ms. Misrilall Mines Pvt. Ltd. Vs Dcit circle (ITAT Kolkata) It is observed that the expenditure on peripheral development in question was incurred by the assessee as a part of corporate social responsibility as per the scheme framed under the Companies Act. As submitted by the learned counsel for the assessee, the said expenditure was actually incurred by the assessee during the year under consideration and it was not a creation of reserve by debit to the profit and loss account as alleged by the A.O. while treating the same as appropriation of profits. As a matter of fact, such expenditure on...