Tuesday, March 23, 2021

No case of anti-competitive practice made out against OPs as there was no record to show cartelization

COMPETITION LAW : Where Informant an association of kraft paper mills alleged that OPs (five different associations of corrugated box manufacturers) had formed a cartel to stop purchase of kraft paper from members of Informant and also to close down their manufacturing units in a co-ordinated manner to create artificial shortage of supply of corrugated boxes, so as to push for low prices of kraft paper (raw material) and high prices for corrugated boxes

from www.taxmann.com Latest Case Laws https://ift.tt/3sqHJ13

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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...