16 August 2011
assessable value should be the value when goods are sold to 1st unrelated person.
say mr X has manufacturing unit, Mr X sold commodity FAN to Mrs X @ 100 Mrs X sold the fan to her son JrX @ 150 JrX sold the fan to Mrs JrX @ 200 Mrs JrX sold the fan to unknown person @ 250
here all the transactions are inter related with Mr X so the transaction value will be 250 for Mr X