[aaykarbhavan] HC advises reference to articles and memorandum to identify principal business of co. for purposes of sec. 73

[2014] 44 taxmann.com 44 (Madras)

IT : "Principal business" of a company has to be determined going by its memorandum and articles

• In the absence of a definite definition of 'principal business", one has to go by the memorandum and articles of a company for the purposes of section 73. One cannot determine "principal business" based on a single year's financial statements

 

Regards

Prarthana Jalan

__._,_.___

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Visit Your Group

• New Members 4

• Privacy • Unsubscribe • Terms of Use