2003 (11) TMI 464

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..... Mondal, Consultant, for the Respondent. [Order per : Jyoti Balasundaram, Member (J)]. Identical issues arise for determination in the above appeals arising out of 2 separate orders of the Commissioner (Appeals); hence they are heard together and disposed of by this common order. 2. Duty demand of Rs. 311,16,49,260/- has been confirmed on M/s. Fiat India for the period April, 1998 to Ju .....

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..... ation that there was any flow back of money from the buyer to the assessee, it cannot be contended that the normal price was not ascertainable and there is no valid reason to doubt the genuineness of the sale price. The Supreme Court upheld the Tribunal s order in accepting the wholesale price of the respondents therein as the correct price following the Supreme Court judgment in the case of Union .....

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..... tween the appellants and their buyers were not at arms length or that there is a flow back of money from the buyers to the appellants. Therefore, the ratio of the Supreme Court judgment cited supra is squarely applicable to the facts of the present case. Following the same, we hold that the wholesale price for the appellants buyer is the normal price which is required to be approved. 4. In the .....

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