{"id":50975,"date":"2025-02-08T16:31:05","date_gmt":"2025-02-08T11:01:05","guid":{"rendered":"https:\/\/itatonline.org\/digest\/city-union-bank-ltd-v-dy-cit-2024112-itr-337-229-ttj-139-chennaitrib-5\/"},"modified":"2025-02-08T16:31:05","modified_gmt":"2025-02-08T11:01:05","slug":"city-union-bank-ltd-v-dy-cit-2024112-itr-337-229-ttj-139-chennaitrib-5","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/city-union-bank-ltd-v-dy-cit-2024112-itr-337-229-ttj-139-chennaitrib-5\/","title":{"rendered":"City Union Bank Ltd. v. Dy. CIT (2024)112 ITR 337 \/229 TTJ 139 (Chennai)(Trib)"},"content":{"rendered":"<p>Held, that Explanation 2 to section\u00a037\u00a0of the Act, put a restriction on deductibility of expenditure of any kind referred to under section\u00a0135\u00a0of the 2013 Act, i. e., corporate social responsibility expenses, with effect from the assessment year 2015-16. The corporate social responsibility expenses had been incurred by the assessee as per mandate of section\u00a0135\u00a0of the 2013 Act. Therefore, the assessee is not entitled to deduction and the findings of the Commissioner (Appeals) were upheld. As regards qualified Institutional placement expenses,matter is remanded\u00a0 for verification.\u00a0 <strong>\u00a0\u00a0<\/strong>\u00a0(AY. 2015-16 to 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.37(1): Business expenditure-Corporate Social Responsibility expenses-Disallowance is justified-Qualified Institutional placement expenses-Matter remanded.  [Companies Act, 2013, S.135]  <\/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-50975","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dgb","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50975","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=50975"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50975\/revisions"}],"predecessor-version":[{"id":50976,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50975\/revisions\/50976"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}