Intermarket India Pvt. Ltd. vs. The PCIT-4, Mumbai

Parties Involved

Facts Summary

The assessee, Intermarket India Pvt. Ltd., claimed a deduction under Section 80G of the Income-Tax Act, 1961 for donations made towards PM Care and Dahyabhai Bhailalbhai Public Charitable Trust amounting to Rs.10,13,000/- and Rs.9,00,000/- respectively, totaling Rs.14,63,000/-. The Principal Commissioner of Income-Tax-1, Mumbai, disallowed the deduction, holding that the expenditure was purely CSR expenditure and not eligible for deduction under Section 80G. The assessee appealed against this order, arguing that the deduction should be allowed as it was a donation to eligible institutions under Section 80G.…

Legal Issues

• 1. Whether the Principal Commissioner of Income-Tax-1, Mumbai was justified in exercising his revision jurisdiction under Section 263 of the Income-Tax Act, 1961.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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