CSR Expenses Not Deductible u/s 37 but Allowed u/s 80G: ITAT Bangalore

Peak XV Partners Advisors Private Limited Vs DCIT (ITAT Bangalore) In a significant ruling for corporate taxation, the Income Tax Appellate Tribunal (ITAT) Bangalore bench has sided with Peak XV Partners Advisors Private Limited (formerly Sequoia Capital India Advisors Private Limited) in its dispute with the Deputy Commissioner of Income Tax (DCIT) regarding the deductibility of Corporate Social Responsibility (CSR) contributions under Section 80G of the Income Tax Act, 1961. The tribunal’s decision, delivered on March 3, 2025, for assessment years 2017-18 and 2018-19, clarifies that CSR ex...