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Future losses accounted as per the Accounting Standard 7 is allowable as business expenditure

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  • Future losses accounted as per the Accounting Standard 7 is allowable as business expenditure
Posted onon June 24, 2013

Tenet Tax Daily June 24 2013

By tenettax-team
Corporate Tax

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Karnataka High Court rules that a foreign company’s sourcing support activities carried by a LO in India do not create a taxable presence in India
Notice dispatched to assessee under section 143(2) after date fixed for hearing would tantamount to denial of reasonable opportunity of hearing to assessee and, in such case, the order passed by revenue authority was not sustainable as it violated the principles of natural justice

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