https://www.taxtmi.com/caselaws?id=13970 The court determined that the assessee-company was neither a public limited company nor a company in which the public are substantially interested due to restrictions on share transfers in its articles of association. The court emphasized the essential element of free transferability of shares for such classification, ruling in favor of the Revenue and against the assessee for the assessment years 1978-79 to 1980-81. The references were disposed of with no order as to costs. en-us Fri, 24 Nov 2000 00:00:00 +0530 Mon, 06 Jul 2009 16:16:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13970 The court determined that the assessee-company was neither a public limited company nor a company in which the public are substantially interested due to restrictions on share transfers in its articles of association. The court emphasized the essential element of free transferability of shares for such classification, ruling in favor of the Revenue and against the assessee for the assessment years 1978-79 to 1980-81. The references were disposed of with no order as to costs. Case-Laws Income Tax Fri, 24 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13970