Monday, May 19, 2014

[aaykarbhavan] ITAT : ‘Business expenditure’ deduction denied for sum advanced towards honouring ‘guarantees’




 ITAT : 'Business expenditure' deduction denied for sum advanced towards honouring 'guarantees' 
LML Limited
May 19 2014
ITAT denies deductibility as 'business expenditure' of amount paid by assessee (engaged in two wheeler business) as 'guarantor' of a Joint Venture company

coutesy:taxsutra
Regards
Prarthana Jalan


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