https://www.taxtmi.com/caselaws?id=262669 Mutuality of interest was accepted as sufficient to treat the buyer as a related person for excise valuation, even though no interconnection existed within the technical definition, and that factual finding was left undisturbed. On valuation, Rule 11's best judgment assessment had to remain reasonable and non-arbitrary; because arm's length sales were also shown to be substantially below cost, the cost plus 15 per cent method was held unsuitable on these facts. Duty was therefore required to be recalculated on the basis of the price difference between arm's length purchasers and the joint venture buyer. en-us Wed, 05 Aug 2015 00:00:00 +0530 Wed, 07 Oct 2015 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262669 Mutuality of interest was accepted as sufficient to treat the buyer as a related person for excise valuation, even though no interconnection existed within the technical definition, and that factual finding was left undisturbed. On valuation, Rule 11's best judgment assessment had to remain reasonable and non-arbitrary; because arm's length sales were also shown to be substantially below cost, the cost plus 15 per cent method was held unsuitable on these facts. Duty was therefore required to be recalculated on the basis of the price difference between arm's length purchasers and the joint venture buyer. Case-Laws Central Excise Wed, 05 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262669