Held that Explanation 2 to section 37(1) inserted by Finance Act, 2012 with effect from 1-4-2015 is prospective in nature and; accordingly, prior to 1-4-2015, CSR expenses incurred by assessee were to be allowed as revenue in nature. (AY. 2013-14)
NTPC-SAIL Power Co. (P.) Ltd. v. DCIT (2022) 193 ITD 473 (Delhi)(Trib.)
S. 37(1) : Business expenditure-Capital or revenue-Corporate Social Responsibility expense-Explanation 2 to section 37(1) inserted by Finance Act, 2014 with effect from 1-4-2015 is prospective in nature.