Tag: guarantees subsidiary company

Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business – ITAT

Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business a the¬†nature of the business of assessee company included furnishing of guarantee to debts borrowed by subsidiary company. ABCAUS Case Law Citation: 991 2016 (08) ITAT Assessment Year: 2005-06 …