https://www.taxtmi.com/caselaws?id=116301 A subsidiary relationship established through shareholding, balance-sheet disclosures, and the parties' own admissions brought the clearances within the related-person valuation regime under Central Excise law, so the Department could assess duty by the prescribed method and the valuation was upheld. An authorised excise official who handled the clearance and valuation process and knowingly ated in undervaluation was liable to penalty; however, the penalty amount was reduced on the facts while the liability in principle was sustained. en-us Tue, 17 May 2005 00:00:00 +0530 Mon, 11 Jun 2012 12:27:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116301 A subsidiary relationship established through shareholding, balance-sheet disclosures, and the parties' own admissions brought the clearances within the related-person valuation regime under Central Excise law, so the Department could assess duty by the prescribed method and the valuation was upheld. An authorised excise official who handled the clearance and valuation process and knowingly ated in undervaluation was liable to penalty; however, the penalty amount was reduced on the facts while the liability in principle was sustained. Case-Laws Central Excise Tue, 17 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116301