https://www.taxtmi.com/caselaws?id=72854 For valuation under proviso (iii) to section 4(1)(a), a buyer is a related person where the statutory relationship of relative or distributor exists and there is real mutuality of business interest between the firms. The provision can apply even when the goods are predominantly, though not exclusively, sold to or through that related person, so the assessable value may be based on the related person's price. The assessable value must also be recalculated by excluding excise duty and sales tax where required by section 4(4)(d)(ii). Penalty is warranted on the facts but may be reduced if found disproportionate. en-us Thu, 12 Mar 1987 00:00:00 +0530 Wed, 25 May 2011 14:50:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72854 For valuation under proviso (iii) to section 4(1)(a), a buyer is a related person where the statutory relationship of relative or distributor exists and there is real mutuality of business interest between the firms. The provision can apply even when the goods are predominantly, though not exclusively, sold to or through that related person, so the assessable value may be based on the related person's price. The assessable value must also be recalculated by excluding excise duty and sales tax where required by section 4(4)(d)(ii). Penalty is warranted on the facts but may be reduced if found disproportionate. Case-Laws Central Excise Thu, 12 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72854