Company status for tax classification depends on stock exchange listing or broad public ownership and control conditions. The amendment substitutes clause (18)(b) to treat a company as not private where either its shares were listed on a recognised stock exchange on the last day of the relevant previous year, or where a substantial portion of voting power was beneficially held throughout the year by government, public corporations, qualifying companies or the public, with those shares freely transferable and the company not controlled by five or fewer persons; aggregation and sector-specific voting threshold adjustments are provided.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Company status for tax classification depends on stock exchange listing or broad public ownership and control conditions.
The amendment substitutes clause (18)(b) to treat a company as not private where either its shares were listed on a recognised stock exchange on the last day of the relevant previous year, or where a substantial portion of voting power was beneficially held throughout the year by government, public corporations, qualifying companies or the public, with those shares freely transferable and the company not controlled by five or fewer persons; aggregation and sector-specific voting threshold adjustments are provided.
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