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ITC is not eligible on expense incurred on CSR Activities
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CA. Sachin Jindal

ITC is not eligible on expense incurred on CSR Activities

The power conferred under Rule 86A is very drastic. Power under Rule 86A should be invoked only if fraudulent ITC or ineligible ITC has been claimed by the assessee and the authority has recorded the reasons for the same in writing.

The authority is bound to record the reasons of invoking Rule 86A in writing and communicate such reasons to the assessee. On receipt of such reasons, the assessee is entitled to make his submission/objection requesting for lifting.

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