https://www.taxtmi.com/caselaws?id=78624 The Supreme Court upheld the Tribunal's decision that M/s. Kwality Ice Cream and BBLIL/HLL are not "related persons" for computing the assessable value of ice cream. The Court found the transactions were on a principal to principal basis, with the price determined through a mutually agreed formula. Therefore, the assessable value could not be based on the price at which BBLIL sold the product from its depot. The appeals were dismissed, confirming the lack of mutual interest between the parties and the commercial nature of their relationship. en-us Fri, 26 Nov 2010 00:00:00 +0530 Sat, 05 Feb 2011 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78624 The Supreme Court upheld the Tribunal's decision that M/s. Kwality Ice Cream and BBLIL/HLL are not "related persons" for computing the assessable value of ice cream. The Court found the transactions were on a principal to principal basis, with the price determined through a mutually agreed formula. Therefore, the assessable value could not be based on the price at which BBLIL sold the product from its depot. The appeals were dismissed, confirming the lack of mutual interest between the parties and the commercial nature of their relationship. Case-Laws Central Excise Fri, 26 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78624