Loans to Sister Concerns Not Tax Deductible When Written Off as Capital Loss, Not Business Expense.

Loans to Sister Concerns Not Tax Deductible When Written Off as Capital Loss, Not Business Expense. https://www.taxtmi.com/highlights?id=24369 Loss of capital cannot be allowed as an expenditure, when it became bad and thereafter, written off. Advance of loans to a sister concern or a subsidiary company cannot be said to be for the purpose of business. - AT en-us Mon, 24 Aug 2015 09:39:33 +0530 Mon, 24 Aug 2015 09:39:33 +0530 TaxTMI RSS Generator Loans to Sister Concerns Not Tax Deductible When Written Off as Capital Loss, Not Business Expense. https://www.taxtmi.com/highlights?id=24369 Loss of capital cannot be allowed as an expenditure, when it became bad and thereafter, written off. Advance of loans to a sister concern or a subsidiary company cannot be said to be for the purpose of business. - AT Highlights Income Tax Mon, 24 Aug 2015 09:39:33 +0530 https://www.taxtmi.com/highlights?id=24369