[aaykarbhavan] Bad debts allowable for loss of advances given in ordinary course even if object clause doesn’t allow money lending

 

Bad debts allowable for loss of advances given in ordinary course even if object clause doesn't allow money lending

May 23, 2014[2014] 45 taxmann.com 118 (Kerala)

IT : It is possible to do occasional money lending in commercial world without having such object clause also and object clause cannot be only basis to prove money lending and it is possible for one company to lend money to another company for various reasons, even in absence of such object clause

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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