Determining Residential Status of A Company depends on the Defacto Control and Management: SC [Read Judgement]

The Supreme Court has held that determining the residential status of a company under the Income Tax Act, 1961 lies in the defacto control and management of the company. The assessees, namely, Mansarovar Commercial Private Limited, Sovereign Commercial Private Limited, Swastik Commercial Private Limited, Trishul Commercial Private Limited and Pasupati Nath Commercial Private Limited were…