Saturday, September 22, 2018

Cartelization amongst manufacturers of zinc carbon dry-cell batteries led to price rise; CCI affirms DG's finding

Competition Act: Where DG found that cartelization-amongst OP-2 and OP-3, manufacturer and suppliers of zinc-carbon dry-cell batteries in India led to an increase in prices of zinc-carbon dry-cell batteries to a very high level causing loss to consumers, created entry barriers in market and foreclosed competition in market, said findings of DG not being disputed or contradicted by either parties, it was to be held that there was contravention of provisions of 3(3), read with section 3(1) by OPs

from www.taxmann.com Latest Case Laws https://ift.tt/2DowNfg

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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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