https://www.taxtmi.com/caselaws?id=355810 For valuing clearances under central excise law, a buyer is related only if the statutory test of inter-connected undertakings is met. The decision applies Section 2(g)(iv) of the MRTP Act, 1969 and holds that only the partners' own direct or indirect shareholding in the body corporate can be counted; the shareholding of close relatives cannot be added unless the statute expressly permits it. On that reading, the fifty per cent threshold was not satisfied and no indirect control was shown. The buyer firms were therefore not related persons under Section 4 of the Central Excise Act, and the duty demands and penalties could not survive. en-us Tue, 14 Nov 2017 00:00:00 +0530 Tue, 12 Mar 2019 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355810 For valuing clearances under central excise law, a buyer is related only if the statutory test of inter-connected undertakings is met. The decision applies Section 2(g)(iv) of the MRTP Act, 1969 and holds that only the partners' own direct or indirect shareholding in the body corporate can be counted; the shareholding of close relatives cannot be added unless the statute expressly permits it. On that reading, the fifty per cent threshold was not satisfied and no indirect control was shown. The buyer firms were therefore not related persons under Section 4 of the Central Excise Act, and the duty demands and penalties could not survive. Case-Laws Central Excise Tue, 14 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355810