Contravention of section 13(1)(c)
This query is : Resolved
14 February 2013
Dear Sir/Madam,
Kindly let me know, if a trust purchases goods from a company owned by son of a trustee and the transaction is at arms length, whether this contravenes the provisions of section 13(1)(c)? is there any case law reference which says there is no violation of the same as the transaction is at arms length?
Regards,
Soumya
Kindly let me know, if a trust purchases goods from a company owned by son of a trustee and the transaction is at arms length, whether this contravenes the provisions of section 13(1)(c)? is there any case law reference which says there is no violation of the same as the transaction is at arms length?
Regards,
Soumya
14 February 2013
Dear Soumya
Yes this would contravene 13(1)(c) since, the son is covered under the list of persons given under section 13(3)(d) and is also covered under definition of relative under explaination 1 to the section...
- Ankit
Yes this would contravene 13(1)(c) since, the son is covered under the list of persons given under section 13(3)(d) and is also covered under definition of relative under explaination 1 to the section...
- Ankit
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Copyright software
- SFT Cash Deposit in Current Account
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
