Company in which the public are substantially interested: review required where liberalised definition applied and report outcome to Board. The instruction directs that the liberalised definition of company in which the public are substantially interested, as introduced in the Finance Act, 1965, is available for assessments prior to 1965-66 and that all pending proceedings up to that assessment year be regulated accordingly; it further requires a review of cases where the liberalised definition was applied and submission of results to the Board in the prescribed proforma.
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 in which the public are substantially interested: review required where liberalised definition applied and report outcome to Board.
The instruction directs that the liberalised definition of company in which the public are substantially interested, as introduced in the Finance Act, 1965, is available for assessments prior to 1965-66 and that all pending proceedings up to that assessment year be regulated accordingly; it further requires a review of cases where the liberalised definition was applied and submission of results to the Board in the prescribed proforma.
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