Co. A (Pvt.) give its car on rent to Co.B. (Public)
X is director in both the companies. Will it be covered in section 297?
Malav Shah
(Company Secretary and AVP Legal)
(171 Points)
Replied 03 August 2009
In my opinion, giving car for rent will not amount to sale of goods, material and service. Therefore section 297 will not apply. However sec 299 will apply.
Regards
Malav
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
