Whether public company will be deemed to be company in which public are not substantially interested by reason only of the fact that number of its directors at any time during previous year is less than six

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....h public are not substantially interested by reason only of the fact that number of its directors at any time during previous year is less than six 1. Reference is invited to Circular No. 44 (LXXV-8) of 1955 [F. No. 4(47)55/Tec.], dated 1-11-1955 of the then Central Board of Revenue on the above subject copy of which is enclosed for ready reference [Annex]. 2. Necessary instructions may plea....