https://www.taxtmi.com/caselaws?id=38772 Section 23A of the Indian Income-tax Act, 1922, and the corresponding test under the 1961 Act require that shares carrying more than fifty per cent of voting power must not be held by fewer than six persons, with relatives within the statutory definition clubbed as one. A registered shareholding cannot be ignored merely because it is not a separate legal entity if voting rights attach to registration. At the same time, the relationship clause must be strictly construed and only statutorily defined relatives can be aggregated. On that construction, Smt. Sushila Devi Goenka could not be clubbed with all members of the group, so the public-substantial-interest disqualification was not attracted. en-us Wed, 04 Dec 1974 00:00:00 +0530 Fri, 09 Apr 2010 10:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38772 Section 23A of the Indian Income-tax Act, 1922, and the corresponding test under the 1961 Act require that shares carrying more than fifty per cent of voting power must not be held by fewer than six persons, with relatives within the statutory definition clubbed as one. A registered shareholding cannot be ignored merely because it is not a separate legal entity if voting rights attach to registration. At the same time, the relationship clause must be strictly construed and only statutorily defined relatives can be aggregated. On that construction, Smt. Sushila Devi Goenka could not be clubbed with all members of the group, so the public-substantial-interest disqualification was not attracted. Case-Laws Income Tax Wed, 04 Dec 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38772