Definition of Term "Sister Concern" for Income tax Purpose

rajesh chanda sharma (Querist) 28 June 2008 This query is : Resolved
In SC verdict in SA Builders case about allowability of interest u/s 36 (1),if fund lended to "Sister concern" in commercial expedency ,So What is "Sister concern" for a partnership firm

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rajesh chanda sharma (Querist) 28 June 2008
Need Answer

rajesh chanda sharma (Querist) 29 June 2008
vide Sec.92 A of IT act 1961

Guest (Expert) 30 June 2008
Is it Sister concern for partnershif firm will be the associated firm wherein the partners are common, motive and interest or the business is similar in nature and managed to benefit both the concerns, as against competing with other concerns.

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