Wednesday, July 18, 2018

Penalty to be imposed upon OPs if they are engaged in bid-rigging: CCI

Competition Act : Where in respect of tender floated by State Municipal Corporation there were coordination between OP bidders to increase probability of OP2 winning said tender, same amounted to bid rigging/collusive bidding in contravention of provisions of section 3, penalty was to be imposed upon OPs

from www.taxmann.com Latest Case Laws https://ift.tt/2uHiZVC
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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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