https://www.taxtmi.com/caselaws?id=297464 The appeal of the assessee was partly allowed, with specific grounds dismissed, allowed, or deemed infructuous. The key issue of classifying the company under Section 2(18) as a company in which the public are substantially interested resulted in a split decision among the judges, leading to a reference to a Third Member. The Third Member ultimately held that the company did not fall under Section 2(18) based on a strict interpretation of the law, rejecting the broader interpretation advocated by the assessee. en-us Fri, 28 Apr 2006 00:00:00 +0530 Mon, 06 Sep 2021 14:36:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297464 The appeal of the assessee was partly allowed, with specific grounds dismissed, allowed, or deemed infructuous. The key issue of classifying the company under Section 2(18) as a company in which the public are substantially interested resulted in a split decision among the judges, leading to a reference to a Third Member. The Third Member ultimately held that the company did not fall under Section 2(18) based on a strict interpretation of the law, rejecting the broader interpretation advocated by the assessee. Case-Laws Income Tax Fri, 28 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297464