Supreme Court Allows Revenue's Appeal, Holds Managing Agents' Group Controlling Over 75% Voting Power Excludes Company from 'Public Interest' Under Section 23A. Partners of Managing Agency Forming a Controlling Group Cannot Be Counted as Public for Purposes of Exemption Under Income-tax Act, 1922.
5 Dec 1967The dispute arose under the Indian Income-tax Act, 1922, concerning the applicability of Section 23A to a company where the Income-tax Officer sought ...
