https://www.taxtmi.com/caselaws?id=55323 The Tribunal held that the second subsidiary company of the first subsidiary company qualifies as a "widely held company" under Section 2(18)(b)(B)(c) of the Income-tax Act, 1961. The Revenue's appeals were dismissed, and the assessees' claims were upheld. The Tribunal clarified that the parent company does not need to hold 100% shares in the second subsidiary for it to qualify as a widely held company. en-us Wed, 08 Jan 2003 00:00:00 +0530 Thu, 25 Nov 2010 15:02:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55323 The Tribunal held that the second subsidiary company of the first subsidiary company qualifies as a "widely held company" under Section 2(18)(b)(B)(c) of the Income-tax Act, 1961. The Revenue's appeals were dismissed, and the assessees' claims were upheld. The Tribunal clarified that the parent company does not need to hold 100% shares in the second subsidiary for it to qualify as a widely held company. Case-Laws Income Tax Wed, 08 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55323