Expenditure towards CSR disallowed u/s 37 of Income Tax Act

Hindustan Construction Company Limited Vs National Faceless Assessment Centre Delhi (ITAT Mumbai) ITAT Mumbai held that expenditure incurred towards Corporate Social Responsibility are specifically disallowed as per explanation 2 to Section 37(1) of the Income Tax Act. Facts- AO disallowed Rs. 74.32 Lakhs being expenditure incurred towards Corporate Social Responsibility. AO disallowed the said claim by invoking provisions of Explanation 2 to section 37(1) of the Act, which states that any expenditure incurred on the activity relating to the Corporate social responsibility referred to in secti...