Donations, CSR & Business Expenses Operate Separately; Section 80G Deduction Allowed

Gujarat State Fertilizers & Chemicals Ltd. Vs ACIT (ITAT Ahmedabad) The Income Tax Appellate Tribunal (ITAT) Ahmedabad has issued its decision in the cross-appeals filed by Gujarat State Fertilizers & Chemicals Ltd. (GSFC) and the Income Tax Department for Assessment Year 2016-17. The tribunal’s order, pronounced on December 17, 2024, granted partial relief to GSFC on several key tax disputes while upholding some disallowances made by the tax authorities. The case involved multiple contentious issues, including the disallowance of administrative expenditure, capitalization of interes...