https://www.taxtmi.com/circulars?id=10660 Inter corporate investment is subject to a statutory ceiling applicable to all shareholdings regardless of holding period, but that ceiling does not apply to an investment company. Whether a share trading company qualifies as an investment company is a question of fact determined by whether the whole or substantially the whole of its business consists of dealing in shares, securities, stock and debentures, and only such companies may rely on the exemption. en-us Thu, 23 Feb 1961 00:00:00 +0530 Thu, 16 Jun 2011 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10660 Inter corporate investment is subject to a statutory ceiling applicable to all shareholdings regardless of holding period, but that ceiling does not apply to an investment company. Whether a share trading company qualifies as an investment company is a question of fact determined by whether the whole or substantially the whole of its business consists of dealing in shares, securities, stock and debentures, and only such companies may rely on the exemption. Circulars Companies Law Thu, 23 Feb 1961 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10660