9911796707
TMI Blog1998 (2) TMI 269X X X X Extracts X X X X X X X X Extracts X X X X ..... per : Justice U.L. Bhat, President]. These appeals are directed against the common Order-in-Appeal Nos. 403 to 422/90, dated 19-7-1990 passed by the Collector (Appeals) confirming the several orders passed by the Assistant Collector on 20 price lists filed by the appellant. 2. Appellant, M/s. Escorts Tractors Ltd. was selling the entire production to M/s. Escorts Ltd. till 31-12-1980. With ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed some shares of M/s. Escorts Ltd. The initial purchase was of 0.6% of the total shareholding and, the shareholding rose to 2.13% subsequently within the period in dispute. On all the price lists which are the subject matter of the present dispute, the Assistant Collector passed orders holding that the appellant and M/s. Escorts Ltd. were related persons within the meaning of Section 4(4)(c) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... follows :- `related person means a person who is so associated with the assessee that they have interest, directly or indirectly, in the business of each other and includes a holding company, a subsidiary company, a relative and a distri-butor of the assessee, and any sub-distributor of such distributor. In order that the definition should apply one person should be associated with the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... having direct interest in the business of M/s. Escorts Ltd. It is thus clear that the two concerns have direct interest in the business of each other and must be regarded as related persons . 6. The department has no case that the appellant, during the period in question, has so arranged that the tractors were not generally sold in the course of wholesale trade except to or through M/s. Escort ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able value of the goods sold to M/s. Escorts Ltd. should be based on the wholesale price charged by appellant to independent wholesalers. 7. Appellant has succeeded before the lower authorities in regard to the period prior to 1-1-1981 but has nevertheless filed two appeals in respect of the aforesaid period also. 8. For the reasons aforesaid, the appeals are dismissed. - - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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