Document Identification Number compliance renders TDS-default orders invalid where mandatory DIN requirements are breached and curative provision does...
Anti-profiteering obligations survive business demerger, complaint withdrawal, and customized supply arrangements where rate-reduction benefits are no...
Road restoration charges constitute taxable services when requested for commercial pipeline activity, requiring reverse-charge GST from the business r...
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Expenditure incurred by subsidiary company for overseeing and executing contracts entered by parent company cannot be considered as business loss of subsidiary. Subsidiary did not undertake its own business and expenses were not occasioned in process or for its business. Expenditure must be connected with or related to business carried on by assessee and profits and gains therein to allow loss. Holding and subsidiary are separate entities, expenditure pertaining to one cannot be claimed by other. For deduction u/s 37, prerequisites are expenditure incurred in respect of business carried on by assessee and spent wholly and exclusively for its own business. Expenditure incurred by subsidiary not in ordinary course of its business cannot be allowed as deduction.
Expenditure incurred by subsidiary company for overseeing and executing contracts entered by parent company cannot be considered as business loss of subsidiary. Subsidiary did not undertake its own business and expenses were not occasioned in process or for its business. Expenditure must be connected with or related to business carried on by assessee and profits and gains therein to allow loss. Holding and subsidiary are separate entities, expenditure pertaining to one cannot be claimed by other. For deduction u/s 37, prerequisites are expenditure incurred in respect of business carried on by assessee and spent wholly and exclusively for its own business. Expenditure incurred by subsidiary not in ordinary course of its business cannot be allowed as deduction.
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