(9)a person shall be deemed to have a substantial interest in the business, if,—(a)in a case where the business is carried on by a company, such person is, at any time during the financial year, the beneficial owner of equity shares carrying at least 20% of the voting power; or(b)in any other case, such person is, at any time during the financial year, beneficially entitled to at least 20% of the profits of such business;
