A person having direct or indirect interest in business is related person for Central Excise valuation provisions: SC

Bilag Industries P. Ltd. Vs Commr. of Cen. Exc. Daman & Anr. (Supreme Court of India) Who can be said to be related person u/s 4(4)(c) of the Central Excise Act, 1944 to enable the authorities to discard the transaction value and arrive at a valuation otherwise? The Supreme Court in this decision considered the definition as contained in Section 4(4)(c) as per which in order that two persons can be said to be related to each other, there must be interest of two persons (said to be related ), directly or indirectly in the business of each other. Thus the buyer and seller must have interest ...