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2017 (9) TMI 1718

Ltd., so it was presumed that both are related persons and that is why goods were sold at a lower price to M/s Dhanuka Laboratories Ltd. - Held that:- Hon’ble Supreme Court in the case of Alembic Glass Industries Ltd. vs CCE, [2002 (4) TMI 75 - SUPREME COURT OF INDIA], has observed that if Directors are common in two different Companies, then they may not be considered as the ‘related persons’ .....

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old GLCE to M/s Dhanuka Laboratories Ltd., who in turn used it in the manufacture of its final products (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 were sold at a lower price to M/s Dhanuka Laboratorie .....

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EL, wherein it was observed that : 7. We have also gone through the Final Order of the Tribunal in the case of R R Ispat Ltd. where a similar issue came up before the Tribunal and it was held that the transaction value has to be accepted unless the manufacturer and buyers have interest in the business of each other, as has been held by the Hon ble Supreme Court in the case of CCE, Aurangabad vs. G .....

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