Monday 15 July 2013

Subsidiary co. isn’t a ‘related person’ for sec. 40A(2); payment made by holding co. isn’t subject t

IT : Subsidiary of assessee-company is not a related person within meaning of sub-clause (ii) of clause (b) of section 40A(2) and, thus, payment made by assessee to its subsidiary cannot be disallowed by invoking provisions of said section


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