Held that the amount spent on corporate Social responsibility (CSR) is allowable as deduction. Explanation 2 to section 37 (1) which is prospective in nature and applies w.e.f. AY. 2015-16. (dt. 11-8-2021) (AY. 2014-15)
National Building Construction Corporation Ltd. v. Addl. CIT (2021) BCAJ-October-P. 54 (Delhi)(Trib.)
S. 37(1) : Business expenditure-Corporate Social responsibility (CSR)-Allowable as deduction-Explanation to section 37(1) is prospective w.e.f. AY. 2015-16]