The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) held that deduction under Section 80G of the Income Tax Act, 1961 cannot be denied merely because the donation forms part of the assessee’s Corporate Social Responsibility (CSR) expenditure. The Tribunal further ruled that no disallowance under Section 14A can be made where the assessee…
SC Dismisses Income Tax Department’s SLP against Cholamandalam MS General Insurance The case arose from a batch of appeals filed by the Revenue before the High Court against a common order of the ITAT concerning M/s. Cholamandalam MS General Insurance Company Ltd. for multiple assessment years ranging from 2005–06 to 2014-15. The disputes revolved around…
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