Corporate Social Responsibility

Corporate Social Responsibility or CSR has become the new buzz world in business circles. I tried to understand the meaning and rationale behind this term and came to know it is way of giving back to the community by the business houses to the same community with whom you do business. Companies have now set up separate departments to undertake CSR, roped in the spouses of employees who want to do charity at the expense of the Company. Now this has become a new business in it self, undertaking charity, documenting it, advertising it and then claiming tax exemption for the money which was spent.
In the first place, you earn exorbitant profits for the services which are provided by you, price your products at unreasonable levels and then give back the same money which you earn and call it CSR. Why should you not run your business in a proper way, without cheating anybody, by earning reasonable sums of money ? But I guess then you cannot earn publicity, nor can you get tax benefits or have the privilege of lecturing people on the "Art of Giving"
Let common sense prevail, that is all I can expect