https://www.taxtmi.com/caselaws?id=83419 Mutuality of interest, shown by reciprocal shareholding, common management and common directors, was treated as sufficient to establish related-person status under Section 4(4)(c) of the Central Excises and Salt Act, 1944. For captive-consumption valuation where normal price was not ascertainable, the Valuation Rules required first resort to comparable goods under Rule 6(b)(i) and only then to cost of production with profit under Rule 6(b)(ii); valuation therefore had to be reconsidered under the correct sequence. An approved price list did not bar reopening for short levy, limitation could still be invoked on the facts, and penalty was left open pending fresh valuation. en-us Wed, 17 Aug 1994 00:00:00 +0530 Wed, 13 Jul 2011 13:56:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83419 Mutuality of interest, shown by reciprocal shareholding, common management and common directors, was treated as sufficient to establish related-person status under Section 4(4)(c) of the Central Excises and Salt Act, 1944. For captive-consumption valuation where normal price was not ascertainable, the Valuation Rules required first resort to comparable goods under Rule 6(b)(i) and only then to cost of production with profit under Rule 6(b)(ii); valuation therefore had to be reconsidered under the correct sequence. An approved price list did not bar reopening for short levy, limitation could still be invoked on the facts, and penalty was left open pending fresh valuation. Case-Laws Central Excise Wed, 17 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83419