Commissioner Of Central Excise, Mumbai vs M/S. Fisher Rosemount (India) Ltd

The Supreme Court held that the determination of valuation of imported goods under Section 14(1)(b) of the Customs Act, 1962 requires more than mere equity participation to establish a relationship between parties. The Court affirmed the tribunal's decision that M/s. Rosemount Inc. USA and M/s. Fisher Rosemount (India) Ltd. were not related persons, as there was insufficient evidence of mutual business interest. Consequently, the tribunal's reversal of the original authority's valuation adjustment was upheld.