Wednesday, May 1, 2019

Presumptive inference & analysis provided by informant couldn't be basis to order probe

Competition Act: Where OP2 was holding fiduciary position in OP1-Association comprising of sugar traders, millers, bulk consumers and informant alleged that OP2 shared price sensitive information pertaining to sugar price over WhatsApp group run and operated by OP2 which in turn were used by group members to quote lowest prices in tender floated by sugar millers, however, no evidence was provided by informant to prove his claim and no case of contravention of provisions of section 3(3) read with

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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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