Participation in management, associated enterprises

The Ahmedabad Bench of Income-tax Appellate Tribunal held that the mere fact of participation by one enterprise in the management or control or capital of the other enterprise, or the participation of one or more persons in the management or control or capital of both the enterprises does not make them associated enterprises under sub-section (1) to Section 92A of the Income-tax Act, 1961 unless any of the criteria specified in sub-section (2) to Section 92A is fulfilled.The case is: Veer Gems. Read a report on associated enterprises u/s 92A of Income Tax [PDF 413 KB] of KPMG