Wednesday, October 9, 2019

No abuse of dominance by ONGC in terminating charter hire aggreement due to exceptional falling of crude oil price

COMPETITION LAW: Where ONGC terminated Charter Hire Agreement (CHA) entered by it with Offshore Supply Vessels (OSVs) due to fall in crude oil prices leading to reduction in E&P activities, it was an exceptional situation, and did not tantamount to an abuse of dominant position by ONGC

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

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...