Corporate Guarantee
This query is : Resolved
SHALINI JAIN
(Querist)
01 September 2010
Whether amount expended for discharge of Corporate Gurantee obligation given to bank for one of its group Companies( Nature of Business in both the companies are different)whether allowable under Income Tax Act.
CA L Gopal Shah
(Expert)
02 September 2010
Hi Shalini
No it will not be allowable
No it will not be allowable
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