ITAT Mumbai Allows Section 80G Deduction on CSR Expenses

ACIT Vs Rustomjee Realty Private Limited (ITAT Mumbai) Introduction: The Income Tax Appellate Tribunal (ITAT) Mumbai recently ruled on a crucial case involving Rustomjee Realty Private Limited’s challenge against the disallowance of expenses and deduction under Section 80G for CSR activities. The appeal was filed by the Revenue against the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi. Detailed Analysis: The Revenue raised multiple grounds, including challenges to the disallowance of interest expenses on non-convertible debentures and the denia...