INCOME TAX : Where founder trustee of assessee-trust was holding only 0.83 per cent of aggregate paid-up ordinary share capital of TSL, which was much less than threshold requirement of provision of Explanation-3 to section 13, founder trustee of assessee could not be held to be having 'substantial interest' in TSL and thus could not have influenced decision of TSL as well as of assessee trust at time of investment and violated provisions of section 13(2)(h)
from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000320319/no-violation-of-sec-13-if-trustee-of-‘tata-trust’-holding-only-0-83-of-shares-of-‘tata-sons-ltd-’-mumbai-itat.aspx
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