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of <h1>Supreme Court Upholds Tribunal Decision on Arms' Length Transactions</h1> The Supreme Court upheld the decision of the Customs, Excise and Service Tax Appellate Tribunal in the case involving M/s. Southern Drugs and ... Concessional Levy of Tax - Manufacturing activity - Whether any manufacturing activity of Horlicks is undertaken in Tamil Nadu - Held that:- not only a specific finding of fact is arrived at to the effect that M/s. Southern Drugs and Pharmaceuticals, with which the respondent entered into Memorandum of Understanding, is a separate manufacturing unit established of its own with its own finances, land, etc., even the dealings between the respondent and M/s. SDP were on arms’ length basis. On these findings, we are of the opinion that the order of the Tribunal does not call for any interference. - Decided against Revenue. The Supreme Court upheld the Customs, Excise and Service Tax Appellate Tribunal's decision regarding M/s. Southern Drugs and Pharmaceuticals, stating that the dealings were on an arms' length basis. The appeals were dismissed.
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