Rule 253 defines "business relationship" for section 515(3)(b)(ii)(H) as any transaction for a commercial purpose, other than professional services an auditor may lawfully provide and transactions at fair market price in the normal course of the company's business.
253
Rules 2026 · Rule 253
Nature of business relationship (authorised income-tax practitioners)
Rules 201-260
The rule. The term means any transaction entered into for a commercial purpose, other than (A) commercial transactions that are professional services permitted to be provided by an auditor or audit firm under the Act and the Chartered Accountants Act, 1949 and the rules or regulations under them; and (B) commercial transactions conducted in the normal course of the company's business at a fair market price, such as the sale of products or services to the auditor as a customer in the regular operation of business by companies in telecommunications, airlines, hospitals, hotels and similar industries.