Section 80G deduction on Corporate Social Responsibility donations is legally allowable and section 263 revision is invalid.
Section 80G deduction on Corporate Social Responsibility donations is legally allowable and section 263 revision is invalid. Issue Whether the Principal Commissioner of Income Tax (PCIT) was justified in invoking revisionary jurisdiction under Section 263 to set aside an assessment order on the ground that donations forming part of Corporate Social Responsibility (CSR) expenditure under… Read More »