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ThynkTax /Tax Reference /Case Laws /CRED Foundation - CSR expenditure

CRED Foundation - CSR expenditure

Income Tax Appellate Tribunal·2024·ITR
Facts

CSR expenditure under Companies Act Section 135.

Issue

Deductibility under Section 37.

Held

Section 37 Explanation 2 (inserted Finance Act 2014) bars CSR expenditure from deduction even if voluntary spend exceeds 2%.

Ratio

CSR is a statutory obligation, not voluntary business expense.

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