Loss on furnishing guarantees for subsidiary company allowed as incurred by holding company in carrying on its own business – ITAT
August 18, 2016
Income Tax, ITAT, Judgments
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 …