alleryStart learning →Under section 97(4), the fact that taxes are paid under an arrangement is:
AConclusive proof of commercial substance
BA ground for automatic exemption
CRelevant but not sufficient
DIrrelevant and to be ignored
Answer & Solution
Correct answer: C. Relevant but not sufficient
Section 97(4) lists payment of taxes among factors that may be relevant but shall not by themselves decide commercial substance.
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