
Tax Tribunal Grants Deductions for CSR Donations: Impact on Corporate Taxation
summary: The recent ITAT ruling clarified the tax treatment of Corporate Social Responsibility (CSR) contributions, emphasizing that while they cannot be claimed under Section 37(1) as business expenditure, they are eligible for deductions under Section 80G, provided certain conditions are met. The decision ensures compliance with regulations while encouraging corporate social responsibility initiatives. In a…