TaxTMI 
TaxTMI 
TaxTMI 
1998 (2) TMI 269
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....e Respondent. [Order per : Justice U.L. Bhat, President]. - These appeals are directed against the common Order-in-Appeal Nos. 403 to 422/90, dated 19-7-1990 passed by the Collector (Appeals) confirming the several orders passed by the Assistant Collector on 20 price lists filed by the appellant. 2. Appellant, M/s. Escorts Tractors Ltd. was selling the entire production to M/s. Escorts Lt....
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....me in 1983, appellant purchased some shares of M/s. Escorts Ltd. The initial purchase was of 0.6% of the total shareholding and, the shareholding rose to 2.13% subsequently within the period in dispute. On all the price lists which are the subject matter of the present dispute, the Assistant Collector passed orders holding that the appellant and M/s. Escorts Ltd. were related persons within the me....
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.... the Act defines "related person" as follows :- "`related person' means a person who is so associated with the assessee that they have interest, directly or indirectly, in the business of each other and includes a holding company, a subsidiary company, a relative and a distri-butor of the assessee, and any sub-distributor of such distributor." In order that the definition should apply one person....
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....nd therefore, must be regarded has having direct interest in the business of M/s. Escorts Ltd. It is thus clear that the two concerns have direct interest in the business of each other and must be regarded as "related persons". 6. The department has no case that the appellant, during the period in question, has so arranged that the tractors were not generally sold in the course of wholesale ....