https://www.taxtmi.com/acts?id=16047 The amendment substitutes a comprehensive definition of inter-connected undertakings into section 4(3)(b) of the Central Excise Act, specifying forms of ownership and control (direct ownership, common partners, corporate management, subsidiary status, same management, group control and transitive connections). It supplies detailed tests for "same management" (including control, shared management personnel, equity and board thresholds, director composition and voting-power commonality), defines "group" and "associated persons", aggregates shareholdings for management determination and excludes financial-institution shareholdings. en-us Fri, 16 Mar 2012 18:17:35 +0530 Fri, 16 Mar 2012 18:17:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=16047 The amendment substitutes a comprehensive definition of inter-connected undertakings into section 4(3)(b) of the Central Excise Act, specifying forms of ownership and control (direct ownership, common partners, corporate management, subsidiary status, same management, group control and transitive connections). It supplies detailed tests for "same management" (including control, shared management personnel, equity and board thresholds, director composition and voting-power commonality), defines "group" and "associated persons", aggregates shareholdings for management determination and excludes financial-institution shareholdings. Act-Rules Bills Fri, 16 Mar 2012 18:17:35 +0530 https://www.taxtmi.com/acts?id=16047