https://www.taxtmi.com/caselaws?id=13846 Whether two related firms are separate assessable persons depends on the parties' intention as disclosed by the agreement and surrounding circumstances, including the extent of interlacing or interlocking of management, finance and other business incidents. The Court found that the Tribunal had not examined these factual indicators in sufficient detail before treating the concerns as independent entities, so the finding could not be sustained on the material then available. The reference was therefore sent back to the Tribunal for fresh adjudication after proper examination of the relevant circumstances; the question was not finally determined on merits. en-us Tue, 16 Jan 2001 00:00:00 +0530 Fri, 03 Jul 2009 12:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13846 Whether two related firms are separate assessable persons depends on the parties' intention as disclosed by the agreement and surrounding circumstances, including the extent of interlacing or interlocking of management, finance and other business incidents. The Court found that the Tribunal had not examined these factual indicators in sufficient detail before treating the concerns as independent entities, so the finding could not be sustained on the material then available. The reference was therefore sent back to the Tribunal for fresh adjudication after proper examination of the relevant circumstances; the question was not finally determined on merits. Case-Laws Income Tax Tue, 16 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13846