Supreme Court’s decision in the case of GMMCO [ 2001 (127) ELT 508] in the context of Related Party Transaction- regarding

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....s ) Subject : Supreme Court’s decision in the case of GMMCO [ 2001 (127) ELT 508] in the context of Related Party Transaction- regarding             I am directed to refer to the Tribunal’s decision against Revenue in the case of Collector of Customs , Madras Vs. General Marketing and Manufacturing Co. Ltd. ( GMMCO), reported in [ 20....

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....istency are core of judicial discipline. But that which escapes in the judgments without any occasion is not ratio decidendi." The Hon’ble Apex Court in a matter reported in AIR 1967 SC Shama Rao Vs. State of Pondicherry p. 1680 has held : " It is trite to say that a decision is binding not because of its conclusions but in regard to its ratio and the principles laid down therein. any decl....