The Ministry of Commerce has specified that there is no proposal to set up a special group to keep tabs on any violation of foreign policy by online retail platforms such as amazon, Flipkart and Myntra. However, any violation of Foreign Direct Investment policy regulation is covered by the penal provision of the FEMA, 1999.
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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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2018 Witnesses Highest FPI Registrations in Four Years from taxmann.com News http://bit.ly/2V8m1i1
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