https://www.taxtmi.com/caselaws?id=364212 For valuation under section 4 of the Central Excise Act, 1944, the Tribunal reiterated that shareholding of close relatives cannot be clubbed to determine whether firms are related persons or whether the 50% control threshold is met. The expression "related person" must be confined to the statutory language, and adjudicating authorities cannot enlarge it by importing a basis not found in the Act. On the facts, the combined shareholding did not cross the relevant threshold and the material did not establish direct or indirect control under the test of inter-connected undertakings in section 2(g)(iv) of the MRTP Act, 1969. The connected firms were therefore not related persons for valuation purposes. en-us Tue, 05 Jun 2018 00:00:00 +0530 Wed, 25 Jul 2018 07:45:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364212 For valuation under section 4 of the Central Excise Act, 1944, the Tribunal reiterated that shareholding of close relatives cannot be clubbed to determine whether firms are related persons or whether the 50% control threshold is met. The expression "related person" must be confined to the statutory language, and adjudicating authorities cannot enlarge it by importing a basis not found in the Act. On the facts, the combined shareholding did not cross the relevant threshold and the material did not establish direct or indirect control under the test of inter-connected undertakings in section 2(g)(iv) of the MRTP Act, 1969. The connected firms were therefore not related persons for valuation purposes. Case-Laws Central Excise Tue, 05 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364212