https://www.taxtmi.com/caselaws?id=90307 Related person valuation under central excise requires direct or indirect business interest supported by surrounding facts such as shareholding, nominated directors, common premises and personnel. Even where those facts exist, valuation cannot be sustained unless the department also shows extra-commercial considerations and displaces the principal-to-principal character of the transactions. Regular approval of price lists by the proper officer can defeat the extended period of limitation where the disclosures were made on the basis adopted by the assessee. If the demand is time-barred or otherwise unsustainable, the connected penalty also fails. en-us Tue, 16 Mar 1999 00:00:00 +0530 Wed, 05 Oct 2011 10:37:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90307 Related person valuation under central excise requires direct or indirect business interest supported by surrounding facts such as shareholding, nominated directors, common premises and personnel. Even where those facts exist, valuation cannot be sustained unless the department also shows extra-commercial considerations and displaces the principal-to-principal character of the transactions. Regular approval of price lists by the proper officer can defeat the extended period of limitation where the disclosures were made on the basis adopted by the assessee. If the demand is time-barred or otherwise unsustainable, the connected penalty also fails. Case-Laws Central Excise Tue, 16 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90307