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2010 (2) TMI 836 - AT - Central ExciseRelated party - demand of duty, penalty and demand of interest on the duty - The question of related persons as is sought to be applied in these cases, is now squarely settled by the Hon’ble Supreme Court in the case of Alembic Glass Industries Ltd., (2002 - TMI - 46252 - SUPREME COURT OF INDIA), the Hon’ble Supreme Court in that case has considered the very same provisions of Section 4 of Central Excise Act, 1944 and it was also considered whether the concept of related persons can be invoked if the Chairman and three directors were on the Board of both the companies, company under the Companies Act, 1956 is a separate entity and, therefore where the manufacturer and the buyer are two separate companies, they cannot be 'related persons' within the meaning of clause (c) of sub-section (4) of Section 4 of the Act is not the universal application, order confirming the demands on the appellant set aside, consequently penalties imposed on the appellants set aside - decided in favor of assessee on the ground of limitation also.
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