« Top Headlines » Open DEMAT Account in 24 hrs  ITR Filing 2025: These individuals are exempt from paying tax. Do they need to file returns?  Full List Of Trump's Reciprocal Tariffs Announced Wednesday  Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025  5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025  March 15 is deadline for last advance tax installment: Know if you must pay «  Projects pumping cash into economy... Onslow leaders make 5-year plan to build economy... » Donations not business expenditure, rules ITAT May, 31st 2008 Donations to trusts cannot be treated as business expenditure, a tax tribunal has ruled. The Income-Tax Appellate Tribunal (ITAT) gave this ruling in a case pertaining to an advocate from Indore who claimed tax benefit on donation made to a charitable trust with instructions to use the money for buying books for the court library. Turning down the plea of the advocate, the ITAT held: No direct nexus has been established between the expenditure by way of donation and the profession of the assessee, such expenditure cannot be allowed deduction under Section 37 of the I-T Act (business expense).