Tuesday, March 17, 2020

Grasim abused its dominant position in market for supply of ‘Staple Fibre’ to spinners in India

COMPETITION LAW : Where information was filed by informant against OPs i.e., Association of ManMade Fibre (MMF) Industry of India and Grasim alleging that OP was sole producer of Viscose Staple Fibre (VSF) having a market share of almost 100 per cent in India and was misusing its sole position in domestic market to squeeze textile industry consumers,

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194222/grasim-abused-its-dominant-position-in-market-for-supply-of-‘staple-fibre’-to-spinners-in-india.aspx

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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...