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2018 (4) TMI 1225 - AT - Central ExciseValuation - related party transaction - Held that: - two of the buyers were private limited companies. As juristic person they cannot be held to be “relative of the respondent firm” - the original authority did not examine as to the category in which these two private limited companies can be considered as interconnected to the respondent firm. The overreaching control, mutuality of interest, financial control by way of share holding pattern etc., has never been discussed. The respondent all along submitted that the value of their sale is based on commercial consideration. These are normal transaction value as per the market conditions. There is no question of rejection as there are no value reduction by any extraneous situation. Appeal dismissed - decided against Revenue.
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