9911796707
TMI Blog2014 (7) TMI 1224X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT (A) correctly granted relief to the assessee - Decided in favour of assessee - I.T.A. No.1546/M/2012 - - - Dated:- 18-7-2014 - SHRI VIJAY PAL RAO, JUDICIAL MEMBER AND SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER Appellant by : Shri Sunil Kumar Agarwal Respondent by : Shri Dharmesh Shah O R D E R PER D. KARUNAKARA RAO, AM: This appeal filed by the Revenue on 5.3.20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is attracted to the provisions of section 2(22)(e) of the Act. The said company is a Public company in which public are substantially interested. Considering the above distinction, the CIT (A) granted relief to the assessee . In this regard, they brought our attention to para 4.8 of the impugned order. 4. We have heard both the parties and perused the orders of the Revenue Authorities in genera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... approved) for the purposes of the Income Tax Act. iv. The CBDT circular 372 of 1983 clearly stated that a subsidiary of a company which is a listed company or a wholly owned subsidiary of such subsidiary company referred to earlier are both Companies in which the public are substantially interested. v. This view is roe than amply reinforced by the cases cited by the appellant and discussed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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