CSR Expenses prior to 1st April 2015 Deductible from Total Income: ITAT

Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata) Since the ‘CSR’ expenses are mandatory for companies incorporated as per the Companies Act, 2013 and the expenditure have been incurred by the assessee as envisaged under the Companies Act, 2013. So we are of the opinion that it has to be allowed and we take note that the Tribunal in Jindal Power Ltd., (supra), has already held that the introduction of explanation 2 to sec. 37(1) of the Act w.e.f. from 1st April, 2015 cannot be held to be retrospective in operation. Therefore, the expenditure incurred by assessee on account of ‘CSR’ as env...