https://www.taxtmi.com/caselaws?id=266629 Thirteen writ petitions were dismissed by the court as the petitioners did not qualify as related parties under Section 245C(1) of the Income Tax Act. The court upheld the Settlement Commission's findings, determining that the petitioners did not meet the conditions of substantial interest required to be considered related parties. The court clarified that substantial interest involves direct shareholding and does not extend to indirect shareholding through other entities. en-us Tue, 20 Oct 2015 00:00:00 +0530 Tue, 03 May 2016 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266629 Thirteen writ petitions were dismissed by the court as the petitioners did not qualify as related parties under Section 245C(1) of the Income Tax Act. The court upheld the Settlement Commission's findings, determining that the petitioners did not meet the conditions of substantial interest required to be considered related parties. The court clarified that substantial interest involves direct shareholding and does not extend to indirect shareholding through other entities. Case-Laws Income Tax Tue, 20 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266629