Case Law Details
Case Name : Add. CIT Vs Rites Limited (ITAT Delhi)
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Delhi
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Addl. CIT Vs Rites Limited (ITAT Delhi)
AO has disallowed claim of the assessee company qua CSR expenditure by misinterpreting the provisions contained under section 37(1) of the Act by observing that since CSR expenditure is not incurred for the purpose of carrying on the business, such expenditure cannot be allowed under the existing provisions of section 37 of the Act. Even Explanation 2 to section 37(1) of the Act is prospective in nature to be effective from 01.04.2015 and is applicable to the expenses incurred with r
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