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[Cites 0, Cited by 0] [Section 40] [Entire Act]

Union of India - Subsection

Section 40(D) in The Central Excise Act, 1944

(D)where one undertaking is owned by a body corporate and the other is owned by a firm, if one or more partners of the firm,
(I)hold, directly or indirectly, not less than fifty per cent of the shares, whether preference or equity, of the body corporate; or
(II)exercise control, directly or indirectly, whether as director or otherwise, over the body corporate;