https://www.taxtmi.com/caselaws?id=81423 For valuation under section 4, related-person status requires mutuality of interest between buyer and seller and cannot be inferred merely from common directors or a one-way commercial relationship. On the facts stated, the buyer company was not a related person of the assessee. On limitation, disclosure of the price list and the buyer's status in returns, together with departmental awareness of the exemption framework, meant suppression of facts was not established; the extended limitation period was therefore unavailable. The duty demand did not survive, with relief following on both the valuation and limitation issues. en-us Thu, 25 Jul 1991 00:00:00 +0530 Fri, 24 Jun 2011 15:31:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=81423 For valuation under section 4, related-person status requires mutuality of interest between buyer and seller and cannot be inferred merely from common directors or a one-way commercial relationship. On the facts stated, the buyer company was not a related person of the assessee. On limitation, disclosure of the price list and the buyer's status in returns, together with departmental awareness of the exemption framework, meant suppression of facts was not established; the extended limitation period was therefore unavailable. The duty demand did not survive, with relief following on both the valuation and limitation issues. Case-Laws Central Excise Thu, 25 Jul 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=81423