Advances to Subsidiary in Hospitality Industry Written Off as Revenue Expenses; Authorities Urged Not to Interfere with Business Decisions.

Allowability of advances written off - there is nexus between assessee’s business and advances given to the subsidiary which was also engaged in the hospitality industry was revenue in nature - Revenue should not sit in the shoes of businessmen and decide what is appropriate for the business of the assessee - Non-recovery thereof is liable to be allowed as revenue expenses .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X