Have interest, directly or indirectly in the business of the other, the assessees and the person alleged to be a related person must have interest, direct or indirect, in the business of each other. Each of them must have a direct or indirect interest in the business of the other. The equality and degree of interest which each has in the business of the other may be different; the interest of one in the business of the other may be direct, while the interest of the latter in the business of the former may be indirect. That would not make any difference, so long as each has got some interest, direct or indirect, in
the business of the other, Union of India v. Atic Industries Ltd., AIR 1984 SC 1495: (1984) 3 SCC 575: (1984) 3 SCR 930.