Monday, February 10, 2020

Allegation of supportive bids couldn't be substantiated on basis of assertion of common ownership: CCI

COMPETITION ACT : Where Informant, engaged in manufacture of high performance and highly sophisticated machines for track maintenance, track laying and track renewal, alleged that OP-3, OP-4 and OP-6 colluded in furnishing bids in response to tenders floated by OP-5 i.e., Ministry of Railways, in violation of provisions of section 3(3), since there was no material on record which could suggest collusion amongst bidders,

from www.taxmann.com Latest Case Laws https://ift.tt/38h5Kxs

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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...