Corporate Law : India transformed CSR into a statutory obligation under Section 135. This shift raises key questions on its role in governance and...
Company Law : A comprehensive guide to applicability, 2% spending rule, governance structure, compliance requirements, and penalties under Secti...
Company Law : Understand CSR obligations under Section 135, including eligibility, expenditure, and reporting. Key takeaway: Proper CSR complian...
Company Law : Explains the strict consequences for failing to meet CSR spending and transfer obligations under Section 135. Highlights how penal...
Company Law : Section 135 mandates companies above certain thresholds to spend 2% of profits on social initiatives, establish CSR committees, an...
Company Law : The issue concerns the inability to update trust details in CSR-1 registration records. It was highlighted that outdated informati...
Company Law : Public and private companies in Bihar increasingly invest in CSR, with key districts receiving substantial social development fund...
Company Law : The Ministry of Corporate Affairs confirms that CSR expenditure data for the last five years is publicly available on its CSR port...
Company Law : Government penalized companies for CSR non-compliance under the Companies Act. Details of penalties, CSR spending, and fund transf...
Company Law : Overview of proposed amendments in the Companies Act, 2013, CSR monitoring framework, and steps to ensure compliance and prevent m...
Income Tax : The issue was whether CSR expenditure disallowed under Section 37(1) can still qualify under Section 80G. The Tribunal held that b...
Income Tax : The Court held that reassessment based solely on an audit objection is invalid as it constitutes a change of opinion. It emphasize...
Income Tax : ITAT held that CSR contributions can qualify for deduction under Section 80G if conditions are met. The ruling clarifies that ther...
Income Tax : ITAT held that revision under Section 263 cannot be invoked when the Assessing Officer has already examined the issue. The ruling ...
Income Tax : The issue was whether CSR expenditure qualifies for deduction under section 80G. The Tribunal held that deduction is allowable as ...
Company Law : The authority penalized the company for failing to transfer unspent CSR funds within the statutory deadline. It held that delayed ...
Company Law : The authority penalized the managing director for wrongly declaring CSR as not applicable in financial filings. It held that signa...
Company Law : The adjudicating authority penalised a company for not spending mandatory CSR funds and failing to transfer unspent amounts on tim...
Company Law : The regulator held that non-spending of CSR amounts and failure to transfer unspent funds within timelines violates section 135. S...
Company Law : The regulator held that failure to spend CSR funds or transfer unspent amounts within statutory timelines violates sections 135(5)...
Section 135 of the Companies Act, 2013 requires eligible companies to spend 2% of average profits on approved CSR activities, ensuring corporate contributions to education, health, environment, and social development.
ROC Mumbai imposed penalties on a company and its officer for not including the Annual CSR Report in the Board Report for FY 2021-22. The ruling emphasizes strict compliance with Section 134(3)(o).
Court permits execution of a single surety bond per district for 1,343 cases, citing exceptional circumstances. This relieves a 70-year-old accused from onerous bail conditions while ensuring court appearance.
The ROC imposed penalties after finding that CSR funds meant for ongoing projects were wrongly spent and not transferred to Schedule VII funds. The key takeaway is that improper use of unspent CSR amounts triggers liability under Section 135(5).
The ITAT Mumbai set aside the PCIT’s revisionary order, holding that the AO’s decision to allow Section 80G deduction on voluntarily disallowed CSR expenses was a plausible view. The ruling reaffirmed the Supreme Court principle that Section 263 revision cannot be invoked merely for holding an alternate opinion.
ITATs confirm CSR donations to 80G-approved bodies are deductible, asserting that the bar under Section 37(1) doesn’t override Section 80G or Section 35. PCIT revisions quashed.
Comprehensive guide on mandatory CSR documents, policies, and reporting under Section 135 of the Companies Act, 2013 and CSR Rules, 2014.
The ITAT ruled that CSR expenditure, though disallowed as a business expense, qualifies for deduction under Section 80G if paid to approved entities. The Tribunal directed the AO to verify the donations and allow the 80G claim, rejecting the argument that a mandatory statutory expense cannot be a donation.
ROC Bangalore imposed a 15.5 lakh penalty on PACE DIGITEK LIMITED and its director for failing to spend and timely transfer unspent Corporate Social Responsibility (CSR) funds for FY 2020-21, violating Section 135(7).
CSR under the Companies Act, 2013 is determined on a standalone basis. Holding/subsidiary companies must independently meet financial criteria to comply.
