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2017 (1) TMI 277 - AT - CustomsValuation - enhancement of 20% of declared value - related party transaction - the foreign collaborator holds 50% share in the company of the appellant - Held that: - foreign collaborator is holding 50% equity in the appellant's company. Except this there is no other evidence which shows that there is a control by the foreign company on the appellant company. As per the judgment relied in the case of MODI SENATOR (I) PVT. LTD. Versus CC. (IMPORTS & GENERAL), NEW DELHI [2009 (3) TMI 808 - CESTAT, NEW DELHI] it was held that merely because Foreign and Indian company having 50-50 percent equity in the Indian entity. It does not fall under the definition of related person as provided under Rule 2(2) of the Customs Valuation Rules, 1988. In the absence of any other evidence it is not established that the appellant and foreign collaborator are related person. Therefore the impugned order is not sustainable - appeal allowed - decided in favor of appellant.
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