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“Section 2(18)(b)(b)”

Section References (mined)Section 2Section 2(18)(b)(b)8 judgments

ASIRVAD MICRO FINANCE LIMITED,ANNA SALAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE -1(1), CHENNAI

In the result, the appeal of the assessee is allowed

ITA 1140/CHNY/2025[2016-17]Status: DisposedITAT Chennai05 Dec 2025AY 2016-17

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1140/Chny/2025 Assessment Years: 2016-17 Asirvad Micro Finance Limited, Assistant Commissioner Of No.9, 9Th Floor, Club House Road, Income Tax, Annasalai, Corporate Circle-1(1), Chennai-600 002 Chennai. [Pan: Aagca5275J] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Mr.P.R.Prasanna Varma, Fca & Mr.Arjun Rajagopalan, C.A. प्रत्यर्थी की ओर से /Revenue By : Mr.Bipin C.N, Cit सुनवाई की तारीख/Date Of Hearing : 25.09.2025 घोषणा की तारीख /Date Of Pronouncement : 05.12.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

For Appellant: Mr.P.R.Prasanna Varma, FCA &For Respondent: Mr.Bipin C.N, CIT
Section 2(18)Section 2(71)Section 56(2)Section 56(2)(viib)Section 8

which the public are substantially interested" as per Section 2(18) of the LT Act, 1961. Hence, by virtue of Section 2(18)(b)(B)(c) of the I.T Act, since during the whole of the Financial Year 2015-16 (relevant to AY 2016-17), "shares ... assessee-company is a company in which Page - 3 - of 16 the public are substantially interested within the meaning of section 2(18) (b)(B)(c) of the Income-tax Act. g. The Hon'ble ITAT, Hyderabad Bench in the case of Apollo Sugar Clinics Ltd. v. Deputy

AVINASH S SADAMATE ACIT CIRCLE 3 3 1, MUMBAI vs. RUCHI RENEWABLE ENERGY PVT LTD, MUMBAI

In the result, the appeal of revenue is dismissed

ITA 620/MUM/2025[2016-17]Status: DisposedITAT Mumbai18 Aug 2025AY 2016-17

Bench: Shri Pawan Singh& Ms. Padmavathy S.(Physical Hearing) Acit Circle – 3(3)(1), Mumbai Ruchi Renewable Energy Pvt. Ltd.706, Room No. 522, Aayakarbhavan, Vs Tulsiani Chambers, Free Press Journal M K Road, Churchgate, Road, Nariman Point, Mumbai-400020. Mumbai – 400021. [Pan: Aaecr1591A] Appellant / Revenue Respondent / Assessee

Section 2Section 2(18)(b)Section 254(1)Section 56(2)(viib)

Hyderabad – Trib.). The investor company is a public limited company in which public are substantially interested within the meaning of section 2(18)(b)(B)(c) of the Act. 4. We have considered the rival submissions of both the parties and have gone through the orders of lower ... Assessing Officer is without any basis and totally arbitrary. The assessee also referred the definition of public company under section 2(18)(b)(B)(c) r.w.s. 2(71) of Companies Act, 2013 are also covered subsidiary of listed company. The assessee stated that assessing officer overlooked the fact

ASSISTANT COMMISSIONER OF INCOME TAX -1(1)(1), MUMBAI vs. M/S AADHAR WHOLESALE TRADING AND DISTRIBUTION LTD , MUMBAI

In the result, the appeal filed by the Revenue is accordingly dismissed

ITA 2649/MUM/2023[2015-16]Status: DisposedITAT Mumbai07 Nov 2024AY 2015-16

Bench: Shri Om Prakash Kant, Am & Shri Rahul Chaudhary, Jm Asst. Cit Aadhaar Wholesale Trading & Room No. 533, Aayakar Bhawan, Distribution Ltd. Churchgate, Mumbai-400 020 Knowledge House Shyam Nagar, Vs. J V Link Road, Jogeshwari (E), S.O., Mumbai-400 060 Pan/Gir No. Aafca 8793 G (Assessee) : (Respondent) Assessee By : Shri Mani & Prateek Jain Respondent By : Shri Ram Krishn Kedia Date Of Hearing : 23.10.2024 Date Of Pronouncement : 07.11.2024

For Appellant: Shri Mani & Prateek JainFor Respondent: Shri Ram Krishn Kedia
Section 143(3)Section 2(18)Section 2(18)(b)Section 56(2)(viib)

over the assessee. The assessee particularly referred to the definition of ‘Company in which public are substantially interested’ as provided in section 2(18)(b)(B)(c) of the Act, according to which a company ( say ‘X’ company) in which more than 50% shares are held throughout ... section 2(71) of the Companies Act, 2013 or Sec 3(1)(c) of the Companies Act, 1956. As per section 2(18)(b)(B) of the I. T. Act, 1961, FVIL holds 70% of the shares as well as voting rights in the appellant company with

ASST. COMMISSIONER OF INCOME TAX, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

In the result, appeals of revenue are dismissed and cross\nobjection of the assessee is allowed

ITA 2653/MUM/2023[2011-12]Status: DisposedITAT Mumbai05 Apr 2024AY 2011-12
For Respondent: \nShri. Madhur Agrawal
Section 143(1)Section 143(3)Section 147Section 68

section 2(71)\nof the Companies Act, 2013 or Sec 3(1)(c) of the Companies Act,\n1956. As per section 2(18)(b)(B) of the I. T. Act, 1961, FVIL holds\n70% of the shares as well as voting rights in the appellant\ncompany with ... substantially interested a\ncompany is said to be a company in which the Public are\nsubstantially interested-\n6.4 The provisions of section 2(18)(b)(B) of the I. T. Act, 1961 are as\nunder\nb) if it a company which is not a private company as defined

ASST. COMMISSIONER OF INCOME TAX, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

In the result, appeals of revenue are dismissed and cross\nobjection of the assessee is allowed

ITA 2651/MUM/2023[2013-14]Status: DisposedITAT Mumbai05 Apr 2024AY 2013-14
For Appellant: \nShri. Madhur AgrawalFor Respondent: \nShri. Ajay Chandra &
Section 143(1)Section 143(3)Section 147Section 68

section 2(71)\nof the Companies Act, 2013 or Sec 3(1)(c) of the Companies Act,\n1956. As per section 2(18)(b)(B) of the 1. T. Act, 1961, FVIL holds\n70% of the shares as well as voting rights in the appellant\ncompany with ... substantially interested a\ncompany is said to be a company in which the Public are\nsubstantially interested-\n6.4 The provisions of section 2(18)(b)(B) of the I. T. Act, 1961 are as\nunder\nb) if it a company which is not a private company as defined

ASST. COMMISSIONER OF INCOME TAX, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

In the result, appeals of revenue are dismissed and cross\nobjection of the assessee is allowed

ITA 2650/MUM/2023[2014]Status: DisposedITAT Mumbai05 Apr 2024
For Appellant: \nShri. Madhur AgrawalFor Respondent: \nShri. Ajay Chandra &
Section 143(1)Section 143(3)Section 147Section 68

section 2(71)\nof the Companies Act, 2013 or Sec 3(1)(c) of the Companies Act,\n1956. As per section 2(18)(b)(B) of the 1. T. Act, 1961, FVIL holds\n70% of the shares as well as voting rights in the appellant\ncompany with ... substantially interested a\ncompany is said to be a company in which the Public are\nsubstantially interested-\n6.4 The provisions of section 2(18)(b)(B) of the I. T. Act, 1961 are as\nunder\nb) if it a company which is not a private company as defined

ASST. COMMISSIONER OF INCOME TAX, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

In the result, appeals of revenue are dismissed and cross\nobjection of the assessee is allowed

ITA 2646/MUM/2023[2017-18]Status: DisposedITAT Mumbai05 Apr 2024AY 2017-18
For Appellant: \nShri. Madhur AgrawalFor Respondent: \nShri. Ajay Chandra &
Section 143(1)Section 143(3)Section 147Section 68

section 2(71)\nof the Companies Act, 2013 or Sec 3(1)(c) of the Companies Act,\n1956. As per section 2(18)(b)(B) of the 1. T. Act, 1961, FVIL holds\n70% of the shares as well as voting rights in the appellant\ncompany with ... substantially interested a\ncompany is said to be a company in which the Public are\nsubstantially interested-\n6.4 The provisions of section 2(18)(b)(B) of the I. T. Act, 1961 are as\nunder\nb) if it a company which is not a private company as defined

ACIT, MUMBAI vs. AADHAAR WHOLESALE TRADING AND DISTRIBUTION LTD., MUMBAI

In the result, appeals of revenue are dismissed and cross\nobjection of the assessee is allowed

ITA 2635/MUM/2023[2012-13]Status: DisposedITAT Mumbai05 Apr 2024AY 2012-13
For Appellant: \nShri. Madhur AgrawalFor Respondent: \nShri. Ajay Chandra &
Section 143(1)Section 143(3)Section 147Section 68

section 2(71)\nof the Companies Act, 2013 or Sec 3(1)(c) of the Companies Act,\n1956. As per section 2(18)(b)(B) of the 1. T. Act, 1961, FVIL holds\n70% of the shares as well as voting rights in the appellant\ncompany with ... substantially interested a\ncompany is said to be a company in which the Public are\nsubstantially interested-\n6.4 The provisions of section 2(18)(b)(B) of the I. T. Act, 1961 are as\nunder\nb) if it a company which is not a private company as defined