https://www.taxtmi.com/caselaws?id=16481 The court upheld the Tribunal's decision that the shares held by Selva Saroja, including those held as a guardian, should be considered in determining voting power under the Income-tax Act. Consequently, the shares in her name were beneficially held by her, affirming that the assessee did not have a substantial interest in the company for the purposes of section 2(22)(e) of the Act. The court ruled against the Revenue, emphasizing that the shares should be included in assessing the application of the relevant provisions. No costs were awarded. en-us Tue, 29 Apr 1997 00:00:00 +0530 Tue, 08 Sep 2009 11:16:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16481 The court upheld the Tribunal's decision that the shares held by Selva Saroja, including those held as a guardian, should be considered in determining voting power under the Income-tax Act. Consequently, the shares in her name were beneficially held by her, affirming that the assessee did not have a substantial interest in the company for the purposes of section 2(22)(e) of the Act. The court ruled against the Revenue, emphasizing that the shares should be included in assessing the application of the relevant provisions. No costs were awarded. Case-Laws Income Tax Tue, 29 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16481