https://www.taxtmi.com/caselaws?id=459406 The Karnataka HC upheld the tribunal's decision that no Associated Enterprise relationship existed between the assessee company and GLATIPL despite having a common director. The court held that mere participation in management through a common director does not establish AE relationship under section 92A unless specific criteria in both subsections (1) and (2) are fulfilled. Since GLATIPL was a subsidiary of ILSGL with no relationship to the assessee company, control was not established. The court also deleted disallowances for transportation charges and expenses under section 37(1), while remanding the land sale addition issue to the AO for fresh consideration. en-us Fri, 17 Mar 2023 00:00:00 +0530 Wed, 11 Dec 2024 19:19:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459406 The Karnataka HC upheld the tribunal's decision that no Associated Enterprise relationship existed between the assessee company and GLATIPL despite having a common director. The court held that mere participation in management through a common director does not establish AE relationship under section 92A unless specific criteria in both subsections (1) and (2) are fulfilled. Since GLATIPL was a subsidiary of ILSGL with no relationship to the assessee company, control was not established. The court also deleted disallowances for transportation charges and expenses under section 37(1), while remanding the land sale addition issue to the AO for fresh consideration. Case-Laws Income Tax Fri, 17 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459406