https://www.taxtmi.com/caselaws?id=42514 The Supreme Court clarified that valuation for excise duty should be based on the price charged by the assessee in wholesale trade, not on the prices at which customer companies sell the products. The Court determined that the respondent-company and customer companies were not "related persons" under Section 4(4)(c) of the Act, emphasizing the absence of mutual interest in each other's business. The judgment of the High Court of Allahabad was upheld, dismissing the appeal without costs. en-us Tue, 02 May 1989 00:00:00 +0530 Wed, 23 Jul 2014 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=42514 The Supreme Court clarified that valuation for excise duty should be based on the price charged by the assessee in wholesale trade, not on the prices at which customer companies sell the products. The Court determined that the respondent-company and customer companies were not "related persons" under Section 4(4)(c) of the Act, emphasizing the absence of mutual interest in each other's business. The judgment of the High Court of Allahabad was upheld, dismissing the appeal without costs. Case-Laws Central Excise Tue, 02 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=42514