09-28-2009, 01:56 AM
Dear all! and specially Kamran bhai
Section 208 implies certain restrictions on investments in associated undertakings.
My questions is
Two companies that are associated are sharing common office.
Office expenditure are paid by one company and a percentage of cost is billed to the second. The said billed amount is outstanding for years, for more than 10 years..
Whether this "financing" by the company is considered under section 208.
Section 208 implies certain restrictions on investments in associated undertakings.
My questions is
Two companies that are associated are sharing common office.
Office expenditure are paid by one company and a percentage of cost is billed to the second. The said billed amount is outstanding for years, for more than 10 years..
Whether this "financing" by the company is considered under section 208.