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2017 (9) TMI 1718

Valuation - related party transaction - case of Department is that one Shri Manish Dhanuka was a common Director in both the companies, namely, assessee- Appellants and M/s Dhanuka Laboratories Ltd., so it was presumed that both are related persons a .....

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MEMBER (TECHNICAL) For The Appellants : Sh. Amit Jain, Adv. For The Respondent : Sh S.K. Bansal, DR ORDER PER JUSTICE (Dr.) SATISH CHANDRA : The present appeal is filed by the assessee-Appellants against the Order-in-Original No. JAI-EXCUS-001-COM-74 .....

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ducts (medicines). The Department found that one Shri Manish Dhanuka was a common Director in both the companies, namely, assessee- Appellants and M/s Dhanuka Laboratories Ltd., so it was presumed that both are related persons and that is why goods w .....

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of Alembic Glass Industries Ltd. vs CCE, 2002 (143) ELT 244 (SC), has observed that if Directors are common in two different Companies, then they may not be considered as the related persons . Further, an identical issue has come up for consideration .....

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Goodyear South Asia Tyres Pvt. Ltd. - [2015 (322) ELT 389 (SC)]. The Hon ble Supreme Court held that expression in the business of each other clearly denotes that interest of two persons have to be mutual. Further, provisions of Rule 9 of Valuation .....

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