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of <h1>Amendment to Section 4 of Central Excise Act Defines 'Inter-Connected Undertakings' in Finance Bill, 2012</h1> Clause 129 of the Finance Bill, 2012, proposes an amendment to section 4 of the Central Excise Act, 1944. It introduces a new definition for 'inter-connected undertakings,' detailing various scenarios where undertakings are considered inter-connected, such as ownership or control by the same entity, common partners, or shared management. This amendment aligns with the definitions from the repealed Monopolies and Restrictive Trade Practices Act, 1969, and will be effective upon presidential assent. The amendment also clarifies the concept of management control and associated persons in corporate relationships.
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