https://www.taxtmi.com/caselaws?id=66454 The Tribunal allowed the appeals by a company in liquidation, determining that the company should be taxed as a company in which the public was substantially interested. The company's shares were found to be widely held, akin to a public company, justifying the tax treatment sought by the company. The Tribunal emphasized that the liquidator should not be considered a single controlling entity but rather an agent of the company for winding-up purposes, distinguishing the liquidator's role from that of a public trustee. The decision was based on the widely held nature of the company's shares and the absence of sanctioned transfers post-liquidation. en-us Thu, 28 Jun 1984 00:00:00 +0530 Thu, 24 Feb 2011 17:49:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66454 The Tribunal allowed the appeals by a company in liquidation, determining that the company should be taxed as a company in which the public was substantially interested. The company's shares were found to be widely held, akin to a public company, justifying the tax treatment sought by the company. The Tribunal emphasized that the liquidator should not be considered a single controlling entity but rather an agent of the company for winding-up purposes, distinguishing the liquidator's role from that of a public trustee. The decision was based on the widely held nature of the company's shares and the absence of sanctioned transfers post-liquidation. Case-Laws Income Tax Thu, 28 Jun 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66454