Service Tax
3746 Points
Posted on 04 June 2011
Sir
It is mentioned in ICAI Module that Sec 372A is not applicable in case of gurantee given by A ltd. in respect of loan made by any person to A's wholly own subsidiary.
So does it mean that Sec 372A is applicable to A Ltd in case of guarentee given by it to it's wholly own subsidiary that is B Ltd for loan granted by B Ltd. to any person ?