Upgrade to AI Search ✕

We've upgraded AI Search on TaxTMI with two powerful modes:

1. Basic
• Quick overview summary answering your query with references• Category-wise results to explore all relevant documents on TaxTMI

2. Advanced
• Includes everything in Basic
• Detailed report covering:
     - Overview Summary
     - Governing Provisions [Acts, Notifications, Circulars]
     - Relevant Case Laws
     - Tariff / Classification / HSN
     - Expert views from TaxTMI
     - Practical Guidance with immediate steps and dispute strategy

• Also highlights how each document is relevant to your query, helping you quickly understand key insights without reading the full text.Help Us Improve - by giving the rating with each AI Result:

Call Us / Help / Feedback✕

TMI Blog

Home /

Previous Next

Advances to Subsidiary in Hospitality Industry Written Off as Revenue Expenses; Authorities Urged Not to Interfere with Business Decisions.

X X X X Extracts X X X X

Full Text of the Document

X X X X Extracts X X X X

....Allowability of advances written off - there is nexus between assessee’s business and advances given to the subsidiary which was also engaged in the hospitality industry was revenue in nature - Revenue should not sit in the shoes of businessmen and decide what is appropriate for the business of the assessee - Non-recovery thereof is liable to be allowed as revenue expenses....

Previous Next

Contact Us At :

FAQs :

Most Asked Video Tutorials :

Submit Feedback/Suggestion :

Advances to Subsidiary in Hospitality Industry Written Off as Revenue Expenses; Authorities Urged Not to Interfere with Business Decisions.