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2008 (6) TMI 184 - GUJARAT HIGH COURTCase of the Assessee is that the Assessee Company is the Company in which the public are substantially interested as defined u/s 2(18) since more than 50% of the shares are held by two Companies “to which this clause applies” – contention of assessee is acceptable – two companies even if not fulfilling conditions laid down in section 108(b), but covered under definition of S 2(18) – therefore, assessee company is also covered by S. 2(18) - assessee should be treated as a Public Limited Company
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