https://www.taxtmi.com/caselaws?id=16383 For the First Schedule to the Finance (No. 2) Act, 1971, the classification of a domestic company may depend on the incorporated definition of a subsidiary in the Income-tax Act and its statutory setting. On that approach, a wholly owned sub-subsidiary can qualify as a subsidiary if the shareholding and control conditions are satisfied, and the parent need not itself be domestic where the assessee otherwise meets the statutory requirements. On interest under section 139 of the Income-tax Act, an appeal is maintainable where the assessee denies liability to interest itself, but not where the challenge is confined to the merits of the levy or reasonable cause. en-us Tue, 28 Jul 1998 00:00:00 +0530 Mon, 07 Sep 2009 14:32:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16383 For the First Schedule to the Finance (No. 2) Act, 1971, the classification of a domestic company may depend on the incorporated definition of a subsidiary in the Income-tax Act and its statutory setting. On that approach, a wholly owned sub-subsidiary can qualify as a subsidiary if the shareholding and control conditions are satisfied, and the parent need not itself be domestic where the assessee otherwise meets the statutory requirements. On interest under section 139 of the Income-tax Act, an appeal is maintainable where the assessee denies liability to interest itself, but not where the challenge is confined to the merits of the levy or reasonable cause. Case-Laws Income Tax Tue, 28 Jul 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16383