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2008 (11) TMI 216 - AT - Central ExciseValuation – Related persons – Inter Connected Undertakings (ICU) – Held that - two companies can be considered as “Inter-connected undertakings”, if one owns or controls the other, if one body corporate manages the other body corporate etc. - special provision (rule 9) is to be invoked only in cases where goods are sold exclusively to or through related persons. It is not in dispute that such a case does not exist here - merely because of shareholdings pattern or common directors, the units cannot be considered as related persons – Cost of the goods by the Asstt. Director (Cost) in respect of goods can not be questioned – costing by the assessee is not reliable - in the case of the sales effected by UPL through the related person UTL, additional consideration of Rs. 295.50 is flowing from Senorita to UTL. There is thus evidence that the higher value has been collected through the related person – demand of duty confirmed however penalty amount reduced or waived in certain cases
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