{"id":32738,"date":"2023-02-13T12:31:34","date_gmt":"2023-02-13T07:01:34","guid":{"rendered":"https:\/\/itatonline.org\/digest\/pcit-v-pec-ltd-2023-bcaj-january-p-44-delhi-hc\/"},"modified":"2023-02-13T12:31:34","modified_gmt":"2023-02-13T07:01:34","slug":"pcit-v-pec-ltd-2023-bcaj-january-p-44-delhi-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/pcit-v-pec-ltd-2023-bcaj-january-p-44-delhi-hc\/","title":{"rendered":"PCIT v. PEC Ltd ( 2023 ) BCAJ \u2013 January P. 44( Delhi)( HC)"},"content":{"rendered":"<p>The Assessing Officer disallowed the expenditure incurred under the Corporate Social Responsivity. On appeal the Tribunal held that Explanation\u00a0 2 was inserted in section 37 by Finance (No.2) Act\u00a0 , 2004 , w.e.f. Ist April , 2015\u00a0 will apply in relation to the assessment year 2015 -16 and subsequent years , \u00a0hence the expenditure incurred was allowable as business expenditure . On appeal High Court affirmed the order of the Tribunal . ( ITA No. 268, 269, &amp; 270 of 2022 dt . 29 -10- 2022 )\u00a0 ( AY. 2013 -14, 2014-15 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>.37(1): Business expenditure &#8211;  Corporate Social Responsibility( CSR)- Explanation  2 was inserted in section 37 by Finance (No.2) Act  , 2004 , w.e.f. Ist April , 2015 \u2013 Apply in relation to the assessment year 2015 -16 and subsequent years \u2013 Expenditure allowable as deduction . <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-32738","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8w2","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32738","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=32738"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32738\/revisions"}],"predecessor-version":[{"id":32739,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/32738\/revisions\/32739"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=32738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=32738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=32738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}