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2011 (3) TMI 909 - CESTAT, BANGALORERelated person - Valuation - the distributors hold some shares in the assessee company cannot be held to make them related persons of the assessee - As for the transactions between them, the buyers of the assessee standing guarantee to the bank for the bill discounting facility enjoyed by the assessee for sales to them to the tune of three crores for three months cannot be held as an arrangement that is not commercial in nature - Sharing of common premises or employing a common statutory auditor, are inadequate to find mutuality of interest between them - Do not find pervasive managerial and financial control by the assessee over the affairs of the distributors - There is no finding of the entities operating common funds as if they are a single entity - There is no sharing of profit - Held that ther are not related person - Decided in favour of assessee.
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