In absence of mutuality of interest two persons cannot be treated as related

Brief of the case:

• The Hon’ble Supreme Court in the case of M/s Goodyear South Asia Tyres held that in order to brand two persons as relatives on the basis of mutuality of interest it is necessary to show that such interest is from both sides in the business of one another.
• Thus, the fact that assessee company is a joint venture of buyers and receiving certain assistance from buyers to smoothen its operations would not result in the interest of business of one another, at the best it is un

  Please become a Premium member. If you are already a Premium member, login here to access the full content.