Corporate Entities Can Deduct Expenses to Maintain Status, Even Without Active Business Operations.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Expenditure incurred for maintaining corporate entity - There is no doubt that the assessee is a corporate entity. Even if it is not carrying on any business activity it has to incur some expenditure to keep up its corporate entity. Therefore expenditure incurred by it has to be allowed. - AT....