https://www.taxtmi.com/caselaws?id=271978 Clearances to the five buyers could not be revalued as sales to related persons or inter-connected undertakings under Central Excise valuation rules because the Revenue failed to establish the necessary relationship or any extra consideration. The Tribunal held that four proprietary concerns could not be treated as inter-connected undertakings with a public limited company under the MRTP framework, and that the definition of "relative" in the Companies Act could not be extended to a corporate entity. In the absence of evidence rebutting the declared transaction value, that value remained applicable. en-us Thu, 14 Jan 2016 00:00:00 +0530 Fri, 11 Nov 2016 16:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271978 Clearances to the five buyers could not be revalued as sales to related persons or inter-connected undertakings under Central Excise valuation rules because the Revenue failed to establish the necessary relationship or any extra consideration. The Tribunal held that four proprietary concerns could not be treated as inter-connected undertakings with a public limited company under the MRTP framework, and that the definition of "relative" in the Companies Act could not be extended to a corporate entity. In the absence of evidence rebutting the declared transaction value, that value remained applicable. Case-Laws Central Excise Thu, 14 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271978