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        Income Tax

        Rule 253 - Nature of business relationship

        Income-Tax Rules, 2026

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        Business relationship excludes permitted audit services and ordinary commercial transactions at fair market price. A business relationship means any transaction entered into for a commercial purpose, subject to exclusions for permitted professional services by an auditor or audit firm under the governing accounting laws. It also excludes commercial transactions in the normal course of business at fair market price, including sales to the auditor as a customer in regular operations, such as in telecommunications, airlines, hospitals, hotels, and similar industries.
                      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.

                            Business relationship excludes permitted audit services and ordinary commercial transactions at fair market price.

                            A business relationship means any transaction entered into for a commercial purpose, subject to exclusions for permitted professional services by an auditor or audit firm under the governing accounting laws. It also excludes commercial transactions in the normal course of business at fair market price, including sales to the auditor as a customer in regular operations, such as in telecommunications, airlines, hospitals, hotels, and similar industries.


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