Can i get accurate explanation for
SUBSTATIAL INTEREST
Is it differs in Situations for eg. Sec 2(22)(e) & Sec.64 Clubbing
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Substantial interest
Replies (1)
Mr.Vamshi Raghvendra
The reference in Section 2(22)(e) is to Section 2(18) - A company in which public are substantial interested.
The reference in Section 64 is to Section 40A(2)(b) Explanation 'Substantial Interest'.
Hence both are different.
As you are a CA Final Student I need not explain the difference section-wise.
Best Wishes
Sathikonda
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