https://www.taxtmi.com/caselaws?id=43204 Reciprocal shareholding, common directors and a common chairman can establish the buyer as a related person for excise valuation where the evidence shows a real mutual business interest. On that basis, the declared price need not be accepted as conclusive, and the department may rework assessable value by reference to the true transaction pattern, including differential pricing and extra-commercial considerations. Approval of a price list does not bar the extended recovery period where the assessee failed to use the proper form, withheld pricing and cost material, and suppressed relevant facts. The result is that related-person valuation, reassessment of value, and extended limitation may all apply where short payment is supported by suppression and misstatement. en-us Wed, 22 Jan 1992 00:00:00 +0530 Wed, 16 Jun 2010 17:18:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43204 Reciprocal shareholding, common directors and a common chairman can establish the buyer as a related person for excise valuation where the evidence shows a real mutual business interest. On that basis, the declared price need not be accepted as conclusive, and the department may rework assessable value by reference to the true transaction pattern, including differential pricing and extra-commercial considerations. Approval of a price list does not bar the extended recovery period where the assessee failed to use the proper form, withheld pricing and cost material, and suppressed relevant facts. The result is that related-person valuation, reassessment of value, and extended limitation may all apply where short payment is supported by suppression and misstatement. Case-Laws Central Excise Wed, 22 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43204